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Wednesday, February 3, 2016

Lower Oil Prices Are Lowering Airfares

Above, a Singapore Airline Airbus A380. Photo by Armand Vaquer.

Finally, we're seeing some benefits from the plummeting oil prices, one of which is lower air fares.

Japan Today reported:
NEW YORK —Plummeting oil prices have led to falling plane ticket prices—and prospects for an even bigger bonanza of consumer-friendly fares in the coming months, airline industry experts say. 
With fuel prices down by two-thirds from the dizzying heights of mid-2014, when oil topped $100 per barrel, the once cash-strapped airline industry is now reaping record profits. 
Increased competition also have helped coax down once stubbornly high fares, the experts say.
Now if we can just see those ridiculous fees (baggage, seating, etc.) that the airlines have tacked on in recent years eliminated.

To read more, go here.

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