Airfares are finally falling and are expected to get cheaper in the Fall, according to the Department of Labor. Declining fuel prices are among the main factors impacting fare costs.
According to statistics released by the DOL, the cost of flights was down 7.8% in July compared to June, which also saw a drop from the peak in May. Several outlets and travel experts are now suggesting the Fall may see a considerable decrease of as much as 40% for domestic fares.
The New York Times noted similar patterns between airfares and gas prices, helped by consumer habits switching to accommodate for the brutally high costs in recent months. But those costs aren’t expected to stay too stable for long. Many travelers are being advised to jump on deals sooner rather than later, so those hoping to take advantage of the shoulder season shouldn’t wait too long.
Airlines are still struggling to cope with the sky-high demand for travel, with many carriers cutting thousands of flights for the rest of the year to alleviate some of the issues. Labor day is expected to fuel a surge in prices once again.
by travelers, for travelers.
