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U.S. carriers hike domestic fares, citing fuel

Friday, Aug. 12, 2005 | 9:35 a.m.

CHICAGO -- Several U.S. airlines moved to raise domestic fares by $10 to $20 per round trip as oil prices resumed their upward trek Thursday, reaching the highest level in more than two decades.

The hike was initiated Wednesday night by United Airlines and Delta Air Lines Inc., and followed Thursday by US Airways. American Airlines and other carriers said they were studying the move and might match.

If the increase sticks, it will be at least the eighth time the industry has raised air fares since mid-February, when crude oil -- the source of jet fuel -- was selling for about $45 per barrel. On Thursday, the price of crude settled at $65.80 a barrel, the highest level since trading began on the New York Mercantile Exchange in 1983.

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