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Rising oil prices likely to impact airfares in The Bahamas

Rising oil prices may soon impact the cost of airfare in The Bahamas, as local airlines Bahamasair and Western Air said they will try to hold off on increases for as long as they can, but inevitably rising costs will have to be passed onto customers.
 
According to the International Air Transport Association (IATA), the price of jet fuel in the region is up more than 50 per cent compared to the same period last year and up roughly five percent since the start of the year.
 
Bahamasair Chief Executive Officer Tracy Cooper said the national flag carrier has made it a point not to pass on those fluctuating changes to its customers, but with the uncertainty in oil futures, he said that may not last for much longer. 
 
The jet fuel price ended last week up 3.8 per cent at $111.1 per barrel in North America.
 
It is slightly more in The Bahamas at $120.6 per barrel.


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