Flight Prices Predicted To DROP This Month

Travelers have been feeling the squeeze of rising costs on nearly everything from gas to airfare…

Orlando International Airport

…and that’s if their flight doesn’t get delayed or canceled entirely. It’s no secret that the travel industry has seen its share of ups and downs recently, but that hasn’t stopped people from globetrotting in record numbers. One travel app has predicted that airfare will significantly drop soon, which could mean even more travelers seeking to take advantage of lower prices. So, what does this mean for you and what could the future of air travel look like?

Domestic airfare will drop 25% this fall, according to travel app Hopper. In August, we could see average fares as low as $286 — a far cry from the peak in May earlier this year. Hopper also predicts that costs will remain at or below $300 through September, but will then pick back up in October and November.

©Hopper

The travel company is citing jet fuel prices, demand, capacity, and flight disruptions as potential factors in this decrease. The price of jet fuel has risen 90% compared to 2021, and is predicted to continue to be a contributing factor to high airfare until prices fall.

©Hopper

Luckily, travel demand has slowed as the backlog of vacationing post-COVID seems to have steadied. August and September are typically the slow or “shoulder” season, and airlines are more likely to drop their prices to encourage people to travel during these times.

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But, just because you book a flight doesn’t mean you’ll actually end up flying — Hopper reports that more than 5,000 domestic flights per day have been delayed or canceled just in the last week of July, and there’s no indication that problem will be solved anytime soon, as staffing shortages are still plaguing the industry.

Airfares could drop in the near future.

Capacity has also been cited as a factor for lower airfare, as many airlines have proactively reduced their schedules for the year. Because of this, Hopper predicts capacity will not fully recover until summer 2023 — meaning fewer seats available to book this year despite high demand for summer and holiday travel.

©Hopper

So, if you’re planning on traveling in the near future, you may be able to take advantage of these lower domestic fares. But, as the holiday season approaches prices are predicted to rise again. Be sure to stay tuned to DFB for the latest travel news and more.