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Some airlines have been adding fees to once-free benefits, such as snacks. Despite this cost-cutting, airlines are finding it harder to survive as they get squeezed by soaring fuel costs.

Are costs and prices interchangable?

Thanks
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New2grammarAre costs and prices interchangable?
No, no, no!!!
From the viewpoint of the airline (or any business), the cost is the money they must pay in order to keep the business running. To stick with the example of an airline, they have to pay for jet fuel; they have to pay fees to use airport space; they have to pay for the planes; they have to pay for maintenance on all their equipment; they have to pay for advertising; they have to pay for all food and drinks they serve on the planes; they have to pay their employees. All of these are costs.
The prices are the amounts they collect from people who use their services. In the case of an airline this is mostly the price they ask the passengers to pay to be transported from place to place, but also the price for carrying extra baggage, and the prices of any food and drinks they sell on board the plane.
PROFIT = PRICE - COST.
Profit can be increased by increasing the price or by decreasing the cost. The two are completely different. They represent different points of view.
The price of gas is assigned by those who sell the gas. But for the airline, which buys the gas, the gas is a cost.
CJ
Comments  
I guess, in your example, cost-cutting can not be replaced by price-cutting, but fuel costs could be replaced by fuel prices or fees.

BTW, just in case you might want to know the general difference between them, here is an example: If a computer is priced at $1000 with 15% tax, then the computer's price is $1000, but its cost is $1150. If you buy it online and there is a shipping fee say $20, then its cost is $1170.

I have a question out of this question: I would like to replace the red part by "by soaring fuel cost." Can anyone make commonts about this? Thanks.
New2grammarSome airlines have been adding fees to once-free benefits, such as snacks. Despite this cost-cutting, airlines are finding it harder to survive as they get squeezed by soaring fuel costs.

Are costs and prices interchangable?

Thanks

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I'm sorry. I didn't realize the word cost was used twice in the passage. The one I referred to is at the end of the passage.

Soaring fuel costs/prices.

By the way, I wouldn't change it to singular just I you wouldn't change savings to saving.
 CalifJim's reply was promoted to an answer.
I sense there is some difference between savings and costs. For examples:

1) My savings is $1000. You can not say my saving is or my savings are ...

2) The cost of this product is $1000.

3) The costs of these products are $1000 in total.

So I still think my question unsolved. But thanks for your oppinion making me think deeper.
New2grammarI'm sorry. I didn't realize the word cost was used twice in the passage. The one I referred to is at the end of the passage.

Soaring fuel costs/prices.

By the way, I wouldn't change it to singular just I you wouldn't change savings to saving.

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CJ, I agree with you. But at least in this context, can I say costs can be replaced with prices because the soaring prices of fuel affect their business profits?