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Soaring Jet Fuel Costs Force Airlines to Hike Fares as Summer Travel Season Approaches

Domestic airfares have reached their highest levels in four years, averaging $623 for round-trip tickets in April. Airlines are passing along surging jet fuel expenses to consumers, as jet fuel prices doubled in less than three months following geopolitical tensions that disrupted shipping channels. Jet fuel is the second-largest airline operating cost after labor. Airlines are responding by trimming capacity on certain routes, reducing seat availability and potentially driving fares even higher amid robust demand heading into the Memorial Day weekend travel period. Gasoline prices above $4 per gallon compound affordability pressures on consumers choosing between driving and flying. The closure of budget carrier Spirit Airlines earlier this month, partly attributed to fuel cost pressures, further limits low-fare options for price-sensitive travelers. Industry analysts say the unofficial summer season launch will reveal consumer willingness to absorb elevated travel costs.