Airlines increased prices 46% in the UK despite falling gas prices

Ryanair UK holiday prices up 46 percent

Falling oil prices didn’t give any relief to customers flying in and out of Britain from November to December. The Office of National Statistics revealed that prices jumped by 46% during that period.

The monthly increase was the largest since 2002.

Crude prices were set at $45.47 a barrel at the start of November and fell below $41 by the end of 2015.

In comparison, fares were down at most airlines in the United States for 2015 with holiday travel costs only slightly up for the year.

The UK has a history of skyrocketing ticket prices during times when schools are closed or the holidays approach.

The UK experienced only 0.2% inflation for 2015, however, the agency says most of that inflation was caused by airfare hikes.

“The fact that airlines can rise prices to this extent demonstrates robust underlying pricing power and strong consumer demand,” said market analyst Alan Clarke of Scotiabank.

Despite the massive increase in airfare, travel was up 4% in December compared to the same month in 2014, according to government statistics.

Apparently UK travelers are willing to throw all the money they saved on gas prices into air travel costs.