Higher fuel prices put pressure on drivers, farmers and airlines

Rising fuel prices are putting pressure on drivers, farmers and airlines across the country, with some carriers considering cutting less-profitable flights as costs climb.

(CNN)-Rising fuel prices are putting pressure on drivers, farmers and airlines across the country, with some carriers considering cutting less-profitable flights as costs climb.

Patrick De Haan, head of petroleum analysis at GasBuddy, said gasoline prices could continue moving higher.

“By the end of the weekend, we could be up to $6.60 a gallon,” De Haan said.

Farmers are also dealing with sharply higher diesel costs. Jon Turner, owner of Turner Farms, said fuel expenses for his operation have doubled.

“It used to cost $100 in diesel fuel and now it costs $200 in diesel fuel,” Turner said. “It hurts.”

Airlines are facing similar challenges as jet fuel becomes more expensive. Executives from United, American and Southwest Airlines have said they could eliminate cheaper, less-profitable flights over the next several months if elevated fuel prices persist.

Southwest Chief Financial Officer Tom Doxey said during an investor conference that reducing capacity would be a “natural response” if fuel prices remain higher for an extended period.

Etihad Airways Group CEO Antonoaldo Neves said the airline continues to see strong forward bookings but identified jet fuel as his primary concern.

“At this jet fuel level that we have today, if that takes too long, we may see prices going up and that may impact customers’ willingness to fly,” Neves said.

Airfares in June, July and August were roughly 25% higher compared with the same period a year earlier, according to the Consumer Price Index.

Diesel prices are also approaching historic levels when adjusted for inflation.

“We’re not quite at the inflation-adjusted high from 2008, but any way you slice it, six-dollar and in some cases almost seven-dollar diesel is having a tremendous impact,” De Haan said.