BLOG: Airfare Decreases Are Coming — Finally!

Have you put off a trip because of recent skyrocketing airfares? Just how bad did those airfares get?

In the first three months of the 2012, the average domestic airfare in the U.S. climbed to $373, up 4.8 percent from the same period last year, according to the U.S. Transportation Department.  That was on top of an 8.3 percent increase in fares in 2011 and another 8.3 percent increase in 2010, according to statistics from the agency. 

Yikes! 

Relief might be in sight. Rick Seaney, chief executive of travel website FareCompare.com, has just predicted that prices should drop  about 10-20 percent, starting around Aug. 21 as the slow fall travel season begins. 

I've been watching fares from John Wayne to Providence (my hometown) to bring a relative to San Juan Capistrano for a visit. A round-trip ticket sells for about $450 if the flight is in mid-August but drops to $350 if the flight is in September, according to data from Expedia.

"Airlines are not pushing their luck with further price increase attempts — at least for now," Seaney said. 

So if you're planning a fall getaway, you're in luck. You can save some dollars on that flight and splurge on something much more fun!