Holiday flights cost far more this year as jet fuel climbs near a record and Thanksgiving fares jump about 30%

Anyone hoping to fly home for the holidays should brace for sticker shock. The fuel that powers airliners is selling for close to its highest price on record and carriers are passing a big share of that bill to passengers.

The average cost of jet fuel in the U.S. passed $4.75 a gallon this week. That is nearly double what airlines paid at this point last year and fuel ranks among their very largest expenses.

The lead economist at a popular travel booking app said fares are sitting at roughly a 10-year high. Tickets for Thanksgiving week are running about 30% above last year while Christmas trips cost more than 20% extra.

Travelers are paying anyway so far

Holiday trips tend to be the last thing families cut, the economist explained. Even with prices up, most people are not dropping their yearly visit home. Many are shopping harder for deals and booking earlier than usual, with a noticeable jump in holiday reservations as early as September.

Airline bosses say the demand picture still looks solid. Delta chief executive Ed Bastian told investors this month that customers have shown only limited pushback and still see fares as fairly affordable after the increases.

Chris Sununu, who leads the trade group for the biggest U.S. carriers, said airlines are swallowing most of the extra fuel cost themselves. Some of it has to reach customers though, he said, which is why fares are up 20% to 30% heading into the holidays.

Some families are staying on the ground

Not everyone can stretch the budget. A Dallas couple who flew to Baltimore for a short birthday getaway said their tickets cost hundreds more than they planned and now they are unsure about a warm-weather trip for the holidays. A Maryland mother said she will drive her kids to Chicago instead because buying seats for the whole family is simply too much.

Another traveler planning a trip to Europe said economy prices she checked two weeks ago had already climbed sharply by the time she went back to buy. She is booking anyway but said she feels for people who cannot cover the extra cost.

It could get worse abroad

The outlook in Europe may be tougher still. The head of a big budget airline there predicted fares across the continent could rise 10% to 20% next year. The U.S. has more oil production and refining capacity, which may soften the hit here, but experts say travelers should not expect prices to drop quickly even if fuel eases.

The best advice for now is to compare fares across several days and airports, set price alerts and lock in a ticket once you see a fare you can live with.