Airfare prices are expected to rise as soon as next month as travelers finalize summer plans, according to travel app Hopper. However, they will reach their peak by the end of May.
Hopper lead economist Hayley Berg reported on Tuesday that domestic round trip fares in April will average $290, which is slightly lower than last April. However, at their peak, around the end of May and early June, prices will average $315 per round-trip domestic ticket.
Those prices will fall back to an average of $264 per round trip ticket in the shoulder season, according to Berg. Shoulder season is an industry term for the off travel season. In the fall, it usually spans between September and October.
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In terms of international travel, airfare has continued to improve "following two years of bloated prices due to quickly recovering demand, high fuel prices and supply constraints."
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The cost of flying to most regions around the world dropped compared with last year, aside from Canada.
However, fares remain higher than pre-pandemic levels "as higher fuel prices persist and airlines continue to rebuild capacity to many regions," Berg said.
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Compared with pre-pandemic times, flights to Canada are 32% higher. Meanwhile, flights for Europe and Asia are up 10% and 44%, respectively.
However, even with the higher prices, Berg noted that Asia still remains top of mind for American travelers, specifically Osaka, Japan, and Seoul, South Korea. Fares for such destinations are over $1,300 per round-trip ticket on average.
For Seoul, Hopper said a round trip ticket sitting at $1,463 is considered a "good deal."
Berg warned that travelers should also expect disruption rates to increase as peak travel months like June, July and August approach. For instance, last summer, delay rates jumped 25% between March and July.
