7. Why airfares are sky-high when jet fuel is dirt cheap (1 point) Airlines are saving big on jet fuel thanks to the plunge in the price of oil -- but those savings aren't getting passed onto customers. If you're wondering why, just take a look at the passengers wedged into the seats next to you. U.S. airlines saw a huge demand for tickets in 2014... Jet fuel is by far every airline's biggest expense, and the cost of it fell by 50% in 2014 alone. Ticket prices have not declined accordingly. In fact, airfare edged up 2.3%... CNNMoney January 21, 2015 Use a S/D model to graphically illustrate and explain why the price in the air travel market slightly increased even though jet fuel costs plummeted.