I did the same in 2006. Piper Aztec for $165/hour (wet). Two major things have happened in those 6 years. One fuel; use to be $3/gal back then if not less. I think I use to have it listed at the FBO for $2.85 most of that year. It's now up to $6.25/gal. The other major factor is the days of the $1million/$100K insurance policy for a flight school are going away. You can still get them but the insurance company starts becoming the director of operations. We have to carry a $5million/$500K policy for all of our aircraft. There's the two reasons I have for prices going so high; gas and insurance.