Cheaper airfares set to come by September?
Just last week, the prospects for cheap airfares in the near future were bleak. Now, some experts believe that come September, travel prices will drop like a rock.
Next month, air travelers should be getting a much needed break, when experts say airfares are expected to drop as much as 10 to 20 percent. August and September are typically a slower time for airlines as kids go back to school.
However, United Airlines just raised fares, and that was followed up by others tacking $4 to $10 onto each ticket.
The convoluted news comes after the Department of Transportation said that the average price of a domestic airline ticket soared to $373 in the first three months of 2012 - nearly a 5 percent jump year-to-date.
However, despite the potential drop, discount airlines like Southwest and JetBlue matched the fare increase last week. If history dictates, the fare hike will stick.
"If the airlines do see for some reason that traffic is going down significantly, then they'll reverse course," travel expert Laura Powell said. "If things go as planned, they'll just keep it going."