U.S. Sen. Charles Schumer called on the federal government Sunday to investigate why the airline industry continues to raise fares despite a drop in fuel prices.
Schumer said costs for flights have gone up 10% over the last five years, even though fuel is now at $60 a barrel, 40% lower than June. The senator said companies shouldn’t be charging fuel surcharges and other extra fees when they are making nearly $20 billion in profits.
“The industry often raises prices in a flash when oil prices spike, yet they appear not to be adjusting for the historic decline in the cost of fuel; ticket prices should not shoot up like a rocket and come down like a feather,” he said in a statement.
Schumer pushed the U.S. departments of Justice and Transportation to investigate the cause of the high prices, particularly corporate mergers and reduced competition have anything had an effect.
