Wednesday, March 9, 2011

Airline fuel costs lift nearly 20 percent

Airlines’ fuel costs soared by nearly 20 percent in January, according to data compiled by the Bureau of Transportation Statistics.
The cost per gallon for U.S. airlines’ scheduled services was $2.62, up 19.6 percent from $2.19 in January 2010. Fuel expenses were up more than 14 percent compared with December.
The price of oil has jumped to around $100 a barrel in recent months because of factors such as the U.S. economic recovery and political turmoil in the Middle East. Already this year, carriers have tried to counter those rising costs with six broad-based attempts to increase domestic airfare, meeting with varying degrees of success.

Neha Jain

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