U.S. Airlines Hike Fares Up To $10 Per Round Trip

U.S. airlines this week raised fares $5 each way or $10 roundtrip for flights of more than 500 miles and $3 each way and $6 roundtrip for shorter flights.

According to FareCompare.com, a company that monitors air fares, the increase was initiated by American Airlines.

The boost has been matched both by American's traditional rivals, including Alaska, Continental, Delta, United and US Airways, and by low-cost carriers, including Frontier, Southwest and Virgin America.

That means the hike is more or less guaranteed to stick, making it one of the few successful air fare increases this year, FareCompare says.

Previous attempts this year failed to gain unanimous participation, although airlines have been successful at adding surcharges during holiday and other peak travel periods.

With oil prices creeping up to $90 a barrel and with traffic holding steady, FareCompare CEO Rick Seaney says it is "likely we will see more domestic hike attempts as we head into 2011."