People want to get up and go, but high gas prices are pumping the brakes on their travel plans.
Gas prices across the Miami Valley are above $4.00 a gallon, with prices reaching a new record high on Wednesday.
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In the skies or on the road, gas prices are making people rethink their spring and summer travel plans.
Bob Wilkins, a University of Dayton professor who used to work at Shell Oil Company, said- prices will come down, but not for a few months.
“For me personally, we were planning on taking a trip for spring break, drive down to Florida, where probably, that’s not a good time to be spending that kind of money,” Wilkens said.
He thinks a gallon of gas to fall be below three dollars this summer.
Meanwhile, aviation analyst Jay Ratliff told News Center 7 that airplane fuel is at an eight year high.
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“What we’re finding is with the fuel prices going up and up and up, they have to increase the fares to keep up,” Ratliff said.
Ratliff also noted how airlines struggled through the pandemic as well.
“Airlines for two years plus have not been able to catch a break. This is just the latest challenge,” Ratliff said.
Historically, they would get 70-percent of their revenue from business travelers, but they have not come back.
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“So now what they have to do is try to figure out a way to come up with that additional revenue and at a time when we have increasing airfares,” Ratliff said.
That means passing on the cost to customers.
“It’s easier for them to do it now, because they can say ‘we have to because of the fuel,’ but the funny thing is that when the fuel price drops, some of those fares don’t drop,” Ratliff said.
He said to book early in order to lock in lower fares.
“The fuel right now that airlines have, they’re looking at what’s it going to cost to replace that fuel. so that uncertainty moving forward means that they’re going to price the tickets at least through the end of summer at some of these incredibly high fares,” Ratliff said.
Ratliff said to check flight prices in the morning when you are thinking about booking a flight, figure out what the general price is, and if you happen to see it significantly lower one day, grab it right away.
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