Consumer News: Oil prices skyrocket, cancellations cost Southwest millions and more

CNN– Those pump prices are hurting wallets nationwide after yet another spike in oil prices. Oil has reached a seven year high, skyrocketing to $84 a barrel. Gas prices are also inching higher. According to AAA, the national average is up to $3.35 a gallon. Back here in the Midlands, we’re averaging about $3.06 a gallon. While we might be better than the national average, it’s still $1.29 more than prices we were paying just this time last year.

ABC NEWS– Those prices are not the only thing rising. Besides just about everything consumers are buying, airfares are going up too. That’s not what we want before those holiday trips we may have planned. United’s CEO warning passengers to brace themselves to pay more for the end of the year. Don’t worry, there are still some deals out there. ABC’s Gio Benitez has the details.

CNN– The recent Southwest Airlines meltdown cost the airline $75 million. Southwest warned investors to expect some hits it its revenue this quarter. It pointed to problems earlier this month that led to more than 2,000 cancellations. Southwest estimates it’s lost $100 million in sales this August alone because of the airline surge, and another 200 million sales in September.

Well how about another form of transportation for your next vacation? Royal Caribbean is offering a 274 night cruise that reaches all seven continents. The company is calling it the ‘Ultimate World Cruise,’ and it hits the seven seas in December 2023. Don’t try to book your tickets just yet, only Royal Caribbean members with elite status have first dibs.

Categories: National News