Fuel Prices Going Up, Book That Summer Vacation Now
According to a recent Frommer article, with global gasoline prices soaring, it’s only a matter of time before the cost of airfare follows suit. “By 2022, broad implementation of fuel charges for travel appears to be a certain conclusion,” it stated.
Consumers should purchase airline tickets for summer vacations as soon as possible, according to the publication, or risk paying increased fares as the season approaches. Some of this speculation was based on news that the Thai Carriers Association, which represents seven Southeast Asian airlines, had requested permission from government regulators to impose fuel surcharges on internal flights within Thailand. Due to the growing fuel cost, private aviation operator Wheels Up has also announced that it will begin charging fuel fees on April 9.
As a result of the Russian war on Ukraine disrupting global crude oil supply, According to Frommer’s, this is certain to be the start of an industry-wide trend, as gas prices continue to approach record highs on a near-daily basis. With the uncertain future, would-be passengers would be wise to book flights now before prices skyrocket.
People need to understand that the longer they wait, the more likely they will be hit with a fuel penalty, aviation statistics expert John Grant told BBC World News on March 11.
Just as global tourism appeared to be on the mend following the COVID-19 pandemic, it has been interrupted by Russia’s unlawful invasion of Ukraine and subsequent warfare. It has an impact not only on international travelers’ propensity to visit neighboring Europe and the Middle East but also on countries like Southeast Asia, where Russian tourists traditionally holiday.
Due to foreign sanctions and aviation restrictions imposed on Russia by the rest of the world, Russian tourists and the cash they create will be noticeably absent from popular tourist destinations such as Phuket and Bali. While the ensuing decline in air travel demand may cut base airfares, the surge in oil prices will ultimately drive costs up, according to Frommer’s.
If airlines start charging fuel surcharges to offset the cost, passengers may not notice because the amount is packed in with all the other taxes and tariffs generally applied to ticket purchase. Fuel surcharges on international airline tickets can add up to several hundred dollars to the overall ticket price. And in the past, once fuel surcharges were implemented, they tended to stay in place even when fuel prices fell.