“Hot girl summer” has become a seasonal mindset and travel caption since 2019. Rising jet fuel costs and disruptions to global jet supply are now affecting last-minute travel plans. Flight ticket prices have increased because the Iran conflict has effectively closed the Strait of Hormuz, reducing supply. Demand for travel is staying similar to last year, but fares are spiking. Domestic airfares for Memorial Day weekend are up more than 50% compared with the same time last year. Guidance emphasizes keeping plans flexible because prices can rise quickly and are now more expensive than last year even at the last minute.
"“It’s still on. Just keep it flexible,” Hayley Berg, lead economist at Hopper Technology Solutions (HTS), told Fortune. “Flexible hot girl summer.”"
"Berg, who has been following flight ticket prices for HTS, a company that offers weary travelers with the peace-of-mind in hassle-free bookings and refunds, said she's seen fares skyrocket thanks to the Iran war disrupting the global jet supply, but demand is still the same as last year. In fact, domestic airfares for Memorial Day weekend were up more than 50% compared to this time last year, according to data from HTS. This year's jump is being driven by a sustained disruption to global jet fuel supply tied to the effective closure of the Strait of Hormuz and the ongoing conflict in Iran."
"“Prices always spike at the last minute for a weekend away,” Berg said. “The difference is prices are over $100 more expensive now than they were at the last minute last year.”"
Read at Fortune
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