Flights are expensive right now. Why they aren't coming down anytime soon.

The useful part

Travelers could be stuck paying high airfares even if oil and jet fuel prices fall, major U.S. The price of jet fuel shot up after the Iran war began and retreated sharply in the spring before surging again as the summer went on. Such fluctuations make it harder for airlines to plan ahead and give them a reason to be cautious about lowering ticket prices, according to Brett House, an economist who teaches at Columbia Business School.

How it works

• Airlines typically decide several months in advance how many flights to operate and seats to offer, factoring in expected fuel costs and other expenses.
• Airfares haven't moved in lockstep with fuel prices, however.
• Jet fuel has risen even faster than oil during the war, reflecting both higher crude prices and tight supplies of the refined fuel that is one of airlines' largest operating expenses.
• Carriers cut some less profitable flights and raised fares and baggage fees, although major U.S.
• airlines said higher passenger revenue initially covered only part of their soaring fuel costs.

What to take from it

Part of the disconnect between fuel prices and airfares comes down to timing, House said.