Airfare amid Iran war: Buy now or wait out the conflict? Experts weigh the risks
Rising fuel costs due to the Iran conflict have increased summer airfare by approximately 10%, with fares to Europe up 9%. Experts advise travelers to monitor prices and book flights when they find good deals, rather than waiting for potential drops. Even if the conflict ends soon, disruptions to oil infrastructure and production could delay a return to normal conditions for months.
- ▪Higher fuel costs have pushed summer airfare up by about 10% relative to expectations.
- ▪Fares to Europe, a top summer destination, have risen approximately 9%.
- ▪Experts recommend booking flights when good deals appear, as fares may not drop significantly even if the conflict ends.
- ▪It could take months for oil infrastructure and production to recover after the conflict.
- ▪Travelers are advised not to wait for price drops due to the risk of continued high fares.
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Berg said she estimates higher fuel costs have already pushed summer airfare up by about 10% relative to Hopper's expectations. Fares to Europe, the top summer travel destination for Americans, have risen about 9%, she wrote."We don't know how fuel prices will trend for this summer, as the outcome of the current conflict is unknown," Berg wrote. "Travelers looking to book a domestic or international flight for summer should start monitoring prices now. If they see a good deal, we recommend they go ahead and purchase!"Even if the war were to wind down in the near future, it would still likely take months for the situation to normalize, experts said.For example, it would take time to rebuild oil infrastructure in the Middle East and to work through delays to oil production, Nastro said.
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