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Air travelers face higher ticket prices as Iran war drives up oil prices
Air travelers face higher ticket prices as Iran war drives up oil prices

With the war in Iran driving up the global price of oil, air fares and fees are rapidly increasing ahead of the summer travel season.

Many global airlines have begun adding fuel-related fees to ticket prices, including Hong Kong's Cathay Pacific, which announced Wednesday it was raising its fuel fees from $140 to $200 per ticket.

Air New Zealand raised fares from the equivalent of $5.76 to $51.85, depending on the length of flights, while Thai Airways said it would raise ticket prices by 10% to 15%.

Other airlines, including Air France, Qantas and SAS, have announced new fuel surcharges, at least temporarily.

How US airlines are reacting

In America, JetBlue announced it will raise bag fees on certain routes during peak periods, such as summertime, from $40 to $49. It also said adding a checked bag within 24 hours of your flight will now cost $59.

While United Airlines has not yet raised any fees, CEO Scott Kirby warned that fares could increase by up to 20% due to the war. The carrier also cut back the number of flights it's offering during the summer months.

Some other airline leaders have also said they could cancel flights that don't generate enough revenue to offset fuel costs, according to The Wall Street Journal.

The price of fuel

The average price for jet fuel has increased more than 85% since the war with Iran began on Feb. 28 - from $2.50 to $4.64 a gallon, according to the group Airlines for America.

By contrast, gasoline prices have increased about 37% during the same period.

Meanwhile, crude oil prices continue to hover in the $100 per barrel range.

How you can save some money

If you're worried higher prices could spoil your summer vacation plans, there are things you can do to cut down costs.

First of all, book early. Prices tend to be lower the further out you book. And look for a changeable fare, so if the cost goes down, you can rebook at the lower price.

Don't forget to shop around. Using search engines, like Google Flights, can help you compare prices from multiple airlines at the same time.

If you're thinking about using points to book, ensure it's worthwhile. Sometimes taxes, fees and surcharges can make it not worth it.

Experts also say staying flexible is your best bet, whether it be for travel dates, airlines or even destination. They also say flying in August instead of June or July could save you some money, thanks to end-of-summer deals.

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