If You're Planning to Travel This Summer, You Should Buy Flights Right Now

This is an excerpt from Dollar Scholar, the Money newsletter where managing editor Julia Glum teaches you the modern money lessons you NEED to know. Don't miss the next issue! Sign up at money.com/subscribe and join our community of 160,000+ Scholars.

At work, I'm great with deadlines. In my personal life? Not so much.

I'm a chronic procrastinator, always waiting 'til the veeery last minute to get ready, to order the bridesmaid dress, to call the Uber. Case in point: I've been kicking around the idea of traveling to London in June to see Harry Styles, but I haven't actually decided which dates I'd like to go.

I was fine dragging my feet and simply dealing with the consequences until about a week ago, when I started seeing some really concerning headlines about airfare.

United Airlines warns of 20% fare hike to cope with oil surge! Air travel faces 'unprecedented' fuel crisis as war squeezes supply, experts warn! Travelers face higher costs and fewer flight options as jet fuel prices swing! Aaah!

The more I read, the more frantic I get about how expensive my plane tickets could be.

Do I need to book my summer travel ASAP?

According to Robin Mitchell, a senior travel advisor with AAA, the answer is yes.

"We've been advising that people book their flights as soon as possible," she tells me. "If you want to make a plan for this summer, you want to get on it right away."

Katy Nastro, spokesperson at Going, the travel app, also says I should get moving. Airfares have already begun to rise; she says she's noticed that "even the cheapest of cheap tickets have gone up" in price over the past two weeks. (More on this in a bit.)

You probably know by now that gas prices are climbing because Iran has blocked the Strait of Hormuz, a major oil shipping channel, for weeks. With supply restricted, the cost for a gallon of jet fuel in the U.S. has jumped from $2.50 on Feb. 27 to $4.24 as I type this.

Along with labor, jet fuel is one of the top two costs for airlines. Usually, carriers can forecast increases in fuel price and raise prices incrementally, but the Iran war "was not in their playbook for 2026," Nastro says. So they're trying to make their numbers work.

Nastro points out that just because the price of oil rises, that doesn't mean jet fuel automatically skyrockets and ticket prices soar. Airlines are indeed looking to pass the increased cost burden of jet fuel onto customers, but they're also experiencing strong demand heading into summer (including, yes, some panic-buying).

"It's a combination of factors that are, unfortunately, driving up prices for consumers," Nastro says. "And that means if you have any desire to travel this summer and have any idea of where you want to go, you want to get those flights locked in at the price you see today."

There are a few caveats to note. The first is that not all tickets are created equal. Nastro compares it to the stock market: Just because the overall market rallies doesn't mean every single stock price soars. In this case, not every plane ticket is skyrocketing; some routes are impacted more than others.

Another is that airlines have to figure out a way to balance supply and demand. Travel is not slowing down: Even amid the partial government shutdown and viral TSA lines, checkpoint numbers hovered between 2.1 million and 2.8 million people per day in late March.

Nastro says that if companies keep hiking their prices, at a certain point, people are going to decide they don't want to travel. In an effort to cut costs, a few airlines "are looking to take a scalpel and make razor-thin cuts" to their schedules, but they can't afford to slash every single flight, especially during peak travel (and earnings) season.

The biggest issue is that nobody knows what sort of timeline the conflict in the Middle East is on.

Nastro says airlines are scrambling to "figure out how long this is going to last, because the longer it lasts, the bigger the impacts are" on both their profits and consumers' wallets.

Companies like Delta, JetBlue and United have recently announced they're hiking bag fees, while airlines like WestJet and Japan Airlines have increased fuel surcharges. Even once the strait reopens, travelers should expect airlines to "try to make the money back as much as they can," Mitchell says — and not be surprised if those fees become permanent.

The bottom line

Before we wrap up, I want to acknowledge that it's a huge privilege to be fretting about leisure travel while a war gravely impacts the lives of millions around the world. That's not lost on me.

The money lesson I learned here, though, is that I should book my summer flights right away before prices rise more. The global energy crisis adds a new layer of urgency, but procrastinating on buying flights is rarely smart.

"It's a good lesson in the future that you really shouldn't ever be waiting until the last minute, or even like two months out, to book for peak season," Nastro says. "You should be booking ahead … because anything can happen."

More from Money:

Dollar Scholar Asks: Is Buying a Timeshare a Good Investment?

Dollar Scholar Asks: What Are the Best Money Tips for Traveling Abroad?

Dollar Scholar Asks: Can Travel Booking Sites Like Expedia Actually Save Me Money?