Investing.com -- JetBlue Airways has increased checked bag fees for the third time in less than a year as rising fuel costs continue to pressure airline profits.
The carrier now charges $50 for a first checked bag in economy class when purchased more than 24 hours before departure during non-peak travel periods, up from $45. Bags checked within 24 hours of departure will cost $60.
During peak travel periods, including holidays and summer, the fee rises to $55 from $49. Passengers who check bags within 24 hours of departure during peak periods will pay $70.
Customers holding a co-branded JetBlue credit card or those with elite frequent flyer status are exempt from the fees.
"We're adjusting checked bag fees to help offset rising fuel and operating costs," JetBlue said in a statement. "This helps us keep our base fares competitive while giving customers the choice to pay for a checked bag only if they need one."
Jet fuel prices have roughly doubled this year since the start of the Iran war in February. The fuel was trading at $4.44 per gallon on Tuesday for the U.S. Gulf of Mexico, according to the U.S. Energy Information Administration.
Jet fuel represents airlines' largest expense after labor costs. The price increases have cost carriers billions of dollars and driven up ticket prices.
Major U.S. airlines typically follow when one carrier raises fees. Several carriers increased their bag fees earlier this year after JetBlue raised its charges.
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