Airfares will drop to record lows this fall

Fortune

A Justice Department investigation into airline collusion, sinking fuel costs and softer demand could push domestic airfares to record lows next month.

The price of an average round-trip airline ticket will slip to $244 next month, about 5% lower than the same time last year, according to a new forecast by Hopper, a Montreal-based company that analyzes airfare data.

Prices will will average about $249 through the end of the year. That’s about 2.8% cheaper than in 2014 and 6.8% cheaper than in 2013. All told, fares haven’t been this low in at least four years.

airfare-2015

“Typically, prices will fall during the latter part of summer before stabilizing in the fall and early winter,” explains Patrick Surry, Hopper’s chief data scientist. “Since this summer was cheaper than last summer, we expect prices to remain lower than last year through the rest of this year, returning slightly closer to normal…

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