American Airlines has filed fare increases of $10 one way and $20 round trip in
an effort to recover some of the costs associated with recent large
increases in the price of crude oil and jet fuel. Only fares in the
continental United States are affected by these increases.
Just since August, average spot market crude oil prices have risen by
nearly $14 a barrel. That increase translates into more than $1 billion of
additional annual expense for American.
Crude oil prices on the spot market averaged $85.66 per barrel for all
of October, but closed at $94.53 a barrel just yesterday—the highest of
any day in October. Since January 2007, refined jet fuel prices on the spot
market have risen nearly 44 percent.