Jet fuel prices are falling, but fares are not

(CNN)– According to Deutsche Bank, air fares are up 15 to 20 percent from a year ago.

But jet fuel prices are down at least 35% since their peak in April.

There are two main things keeping the price of flying sky high.

The first demand.

Simply put, people keep buying tickets, so airlines have little motivation to lower prices.

The second is less competition.

The bankruptcy of Spirit Airlines removed a lot of pressure for legacy airlines to compete on price.