High airfares are weighing on Thanksgiving travel plans this year
Average fares for the Thanksgiving holiday were up 31% in August from a year ago, according to aviation pricing data.
Watch CBS News
Average fares for the Thanksgiving holiday were up 31% in August from a year ago, according to aviation pricing data.
E15 is usually only available part of the year to help ease high gas prices under a waiver from the EPA.
Americans on tight budgets are getting hit especially hard by surging fuel costs, forcing some to make hard choices.
Brent crude surged past $126 a barrel early Thursday, while U.S. gasoline prices jumped to $4.30 a gallon.
Travelers could see airline fares rise and fewer flights available in the coming weeks, Chevron CEO Mike Wirth said in an interview with "Face the Nation with Margaret Brennan."
The Trump administration proposed rules that would weaken fuel economy standards for vehicles set under President Biden in 2024.
Drop in summer fuel prices may indicate Americans are traveling less than they used to, says one expert.
The U.S. has a 25 day supply of diesel fuel, but refineries are continuing to add to that.