Airfare soars amid high fuel prices and travel demand

Airfare surged in the U.S. in March amid high fuel prices and increased demand for travel.

CNBC reported that consumers spent $8.8 billion on domestic U.S. airline tickets last month, up 28% compared with March 2019, before the Covid pandemic, while fares surged 20%, according to data from the Adobe Digital Economy Index.

Also Read: U.S. inflation rose 8.5% in March fueled by high gas prices, highest since 1981

Amid Russia’s invasion of Ukraine, oil prices have increased dramatically as Moscow plays a key role in the oil market. People are also willing to travel with the decrease in Covid-19 cases after the Omicron spike.