Due to the rising prices of jet fuel going up in this past year, it is causing the airlines to really consider the raising of prices for the supply of airline fares for passengers. The technological changes and planes/jets are being improved, the fuel is less of a big issue because they are becoming more efficient. Although, if the prices are to rise, even more, they will have to as well cut the capacity that is on the flights. Complete action has not been taken though, because of it ending up being a sudden change.
It will end up affecting the fares of airlines if they do not get the profit that they are expecting. The reason for this is because, due to the high pays of fees from bagging to premium seats to a WIFI connection, this is how the airlines can make their profits for the company. Therefore, if the price of the fuel begins to continue even more than it is now, it will cause the airlines to have a decrease in their profit, and if it goes even lower than it should have, they will have to increase the prices of fares, and maybe even consider a fuel surcharge. Airlines once even had to add this surcharge a decade ago due to the increasing prices then, but as it decreased they were able to get rid of it.
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Whereas, if the prices were to increase, even more, that will then make people that go on business trips (or the company that pays for them), vacations, etc. to notice the prices and even the cut down of seats, which causes them to take less trips.