Fuel is a major expense for airlines and is a factor in airline ticket costs. Airline operators must plan in advance to secure supplies of gasoline, diesel, and jet fuel, and typically buy at market rates from refiners or from wholesalers/distributors. Airlines use a number of hedging strategies to control their fuel costs.
The price of your ticket consists of a number of things, including: the base fare, taxes and airport fees, fuel surcharges (if applicable), service fees to the issuer, food, seat selection, baggage, and more depending on your carrier. Airlines offer a number of travel classes (e.g. First or Economy) as well as a variety of booking classes. Booking classes are different types of tickets within each travel class that have different rules, restrictions, and prices. These booking classes appeal to different types of travelers and help airlines maximize profits.