AAA: Rising fuel costs may impact Spring Break or summer travel plans
President Joe Biden has banned all Russian energy imports due to the country’s invasion of Ukraine. This means no more oil, natural gas or coal. It comes after pressure from Republicans, Democrats and the Ukrainian president.
But the ban on Russian imports could push fuel prices even higher in the United States. Gas prices in New Jersey are already at record highs.
This is all happening just as many are planning Spring Break trips or summer getaways. Rising fuel costs could also impact airfare, just as some sense of normalcy is returning to the travel industry.
“This is going to have a ripple effect on various aspects of travel,” says AAA Mid-Atlantic spokesperson Tracy Noble.
Jet fuel prices have surged to near 14-year highs. Noble says this, combined with the rising cost of daily operations on plans and at airports, could mean airfare will rise just as the demand is back up. But she says that it is hard to predict when and by how much.
“We have never seen these prices before. We are breaking records on a daily basis, so we don’t have historical data to shed light on what the trends are going to be,” Noble says.
She says that anyone looking to finalize Spring Break or summer trips, should finalize them fast. Book flights now to lock in current prices.
“Locking in that price now could potentially save you money in the future. That way you won’t be subjected to whatever the current market is at that time,” Noble says.
This also is good advice when it comes to all aspects of a trip. Travelers should keep inflation in mine when making plants. For example, all-inclusive resort with activities for all, might cut down on rental car costs, or cab fare.