United, Delta, Continental raise U.S. fares

United Airlines, Delta Air Lines and Continental Airlines have raised fares on most U.S. routes to try to mitigate the effect of rising fuel costs.

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United, a unit of UAL Corp., said its fare increase of $2 to $5 affected each one-way leg of a trip. Delta said its increase of $10 also applied to each leg of a trip except in markets where it faced low-cost competition, where the fare would rise by $3 to $5 per leg.

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Continental said on Thursday it was matching Delta's fare hike. It was not immediately clear when Continental's increase would go into effect. But United and Delta said their increases were effective immediately.

The airline industry has been hurt by soaring fuel prices and low-cost competition. Crude oil futures notched a record high of $66 a barrel on Thursday.