Just saw this from the BBC: rental car prices are zooming in Europe – when you can find any cars to rent. Apparently Spain is being hardest hit, and some reportedly paying twice the normal rates.

Same thing in the US: earlier this summer, the New York Times noted that rental car companies were cutting their fleets – a matter of supply and demand, much as the airlines have cut capacity – with the result that average rental car prices jumped 65% in some areas.

A friend recently tried to rent a car in Hartford, which she noted “is not exactly a hotbed of tourist activity” – and called five companies before she found one with a vehicle for rent – a huge gas guzzler that she didn’t want, but took anyway. She also noted the daily rates for compacts at some of the companies were listed at $80+.

Well, at least someone in the travel industry is making some money this summer. My advice: don’t put this off to the last minute — if you need a car, rent early.