Jet fuel costs driving airfares up

DALLAS -- Southwest Airlines Co. says it's raising ticket prices to offset jet fuel costs. And several other big airlines are following Southwest's lead.

Monday, Southwest raised fares by $4 to $10 per round trip, depending on the distance. It's Southwest's third increase this year, and a spokesman said it's all due to higher fuel costs.

United Airlines, Delta Air Lines, American Airlines, US Airways and Frontier Airlines confirmed that they matched the Southwest increase.

According to government figures, spot prices for jet fuel are up 12 percent so far in 2012 but just 4 percent from a year ago.

Southwest said this month that because it will pay more than it expected for fuel, it won't earn a profit for the first three months of the year. The airline also said it had a slowdown in passengers booking flights in late February -- a trend not reported by other airlines.

Southwest chief executive Gary Kelly said last week that if fuel prices continue to rise, Southwest could be forced to reduce flights.