Shuttle prices are typically very low because of Amtrak's success in drawing passengers out of the sky and onto the rails. The daily O&D on the LGA-DCA shuttles has slid into very low numbers. That's why US now uses tiny E190s instead of the larger 727s that were common many years ago. In the 4th quarter of 2014, there was an average of just 605 daily O&D passengers each way for US and DL to fight over. US carried 49% of them. US carried an average of just 297 daily local passengers each way on its LGA-DCA shuttles in the fourth quarter. Good thing US also carried some connecting passengers. Fact is, the planes are never full, and that's why walk-up fares are typically so low. Until this week.
If more people flew the LGA-DCA shuttles every day, the airlines would fly those routes with larger planes. And if a lot more people flew the shuttles every day, the average fares might not be quite so cheap.
Sometimes, transcon fares between JFK and LAX are just a couple hundred dollars if bought well in advance, but if you walk up to the counter during major Hollywood events and ask to buy the last seat on a particular flight, it's usually going to be several multiples of the off-peak cheap fare. Nothing new to see here, as that's been the way of the world since deregulation.
Right now, the New York Upfronts are happening, and that means that on some transcons, there aren't any seats available, especially in first class or business class. Sold out. No First or business seats at any price, and those last seats sold for full list price. Thousands of dollars. No upgrades for frequent flyers, as paid fares took all the seats. Is AA guilty of price-gouging? Sure. There's nothing wrong with gouging every dollar you can for airplane tickets.
It may be wrong to price-gouge for food and water after a natural disaster, but those items are necessities of life. Airplane tickets? Luxuries. Don't like the high fares? Take a bus or stay where you are for a while.
Wolf Blitzer? I'm certain that the most ignorant poster on this website knows more about airline economics than Blitzer will ever learn.