TAMPA, Fla. – A surge in Bay Area gas prices could soon push holiday airfare higher, prompting AAA to warn travelers to start shopping for flights now.
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Surge at the pump
What we know:
The warning comes as gas prices continue climbing across the Tampa Bay area. Drivers are now paying an average of $4.3157 per gallon for regular unleaded, up about 9 cents from Wednesday, roughly 14 cents from a week ago and nearly 47 cents from a month ago, according to AAA. Diesel prices remain even higher at $6.3635 per gallon, just below the metro area’s record high.
AAA says those higher fuel costs don’t just affect drivers.
As oil prices rise, the cost of producing gasoline, diesel, and jet fuel also increases. That can eventually put upward pressure on airline ticket prices, especially as demand builds heading into the busy holiday travel season.
A new AAA Consumer Pulse survey found 49% of Florida travelers who delayed booking a trip ultimately paid more than they would have by booking earlier. Budget concerns and hopes that prices would fall were the two most common reasons for waiting.
Why you should care:
Higher fuel prices can affect more than the cost of filling your tank. Airlines face higher jet fuel costs when oil prices rise, and those expenses can eventually be reflected in airfare. With strong demand expected for holiday travel, waiting to book could leave travelers paying more and facing fewer flight and hotel options.Â
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Holiday travel strategy
What they’re saying:
“Many travelers hope to find a better deal by waiting, but that strategy doesn’t always pay off,” AAA spokesman Mark Jenkins said. “You don’t need to book the first itinerary you find but now is a good time to research your options, compare prices, and make decisions before availability becomes more limited.”
What you can do:
AAA recommends travelers establish a budget, compare several travel dates, set fare alerts and consider traveling before or after the busiest holiday weeks, when prices are often lower and crowds are smaller.
What’s next:
AAA says travelers planning trips for Thanksgiving, Christmas or New Year’s should begin comparing flights and hotels now while availability is greater and before additional fuel costs potentially push prices higher.
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