This might be one of the more unsurprising back stories of the recent news regarding the falling price of fossil fuel.
Air fares — which shot up right along with the price of those fuels back in 2010 and 2011 — are staying right where they’ve been, even while the price of fuel falls through the floor.
Who knew?
I get that air carriers want to preserve their profit margins. But can’t they do so while providing a little bit of relief for those who want to fly somewhere?
It’s a bit like the gasoline dealers who fairly routinely jack the price of fuel up a dime, 12 or 15 cents at one pop when the price of oil ticks up — as it did near the end of last week; I’m waiting now for the gasoline price to reflect the increase.
When the prices of oil comes down, the dealers seek to maintain their own profit margins for as long as they can by inching the price of gas downward a penny or maybe two at a time.
I understand basic economics as much as the next guy. It just is a bit frustrating — as a potential consumer — to wait for air fares to decline at the same pace that they escalate.