By Jim Donovan: Southwest Airlines has announced that it is raising airfares by $10 round-trip ($5 if you only fly one-way). The airline cites rising jet fuel costs for the increase.

Prices for jet fuel have risen about fifty percent in the past year to $2.80 a gallon. Last year Southwest spend $3.6 billion on fuel, that is one third of its operating budget.

While Southwest is simply raising fares, other airlines have recently started charging customers what they’re calling “fuel surcharges.”

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