If you're looking to save big on airfare prices for your summer vacation or spring break, now is the time to buy: According to a new report from Hopper.com, airline ticket prices will hit a low they haven't seen in three years this month. They predict that the Consumer Airfare Index will fall all the way down to $210 at the end of January; for context, that rate is about 14 perecent lower than the overall average for 2015. The cause of this price decrease? Low oil prices. In fact, jet fuel prices have reached a 10 year low, costing just $1.01 per gallon.
Hopper makes predictions about flight prices based on their comparison of the Bureau of Labor Statistics’ Airfare Consumer Price Index and their own price index. This price index takes into account data from searches for every flight query, resulting in a real-time forecast that allows them to reveal tidbits like this one based on the trends they observe.
Of note: The pricing will be affected by state. According to Copper, many Southern and Western U.S. states such as Montana and Alabama have higher fares than Midwestern states such as Ohio and Indiana right now, so keep in mind that the price of your ticket will change depending on where you're located. Prices will also obviously differ depending on your destination. You'll want to act fast, since prices are going to increase again in the spring. So if you know you'll be flying this year, and when you'll be taking to the skies, now is the time to buy!
Hopper has calculated the cheapest destinations to purchase tickets for during this price dip. If you're looking for a fun destination to venture off too or just want to take advantage of the low prices, here are the top five cheapest domestic flight destinations right now. To see more and the cheapest international destinations, make sure to head over to Hopper.
1. Honolulu, Hawaii
Aloha, Hawaii! Now is the perfect time to get some sun and sand in this tropical destination: The current price of a roundtrip ticket is 20 percent cheaper than usual, $545. I can't think of a place I'd rather be in right now than Honolulu during this snowy weather.
2. Miami, Fla.
If you want to stay a bit more local, you can still soak up the sun and frolic on the beaches of Miami — flight prices are 17 percent lower on average right now, Hopper's data. I just went to Miami this past December, and I can tell you from experience that it is every bit as fun as you'd imagine.
3. New Orleans, La.
Perhaps you could make Mardi Gras come early this year to New Orleans — prices will be 17 percent lower on average during January. If the party scene isn't your thing, you could also check out the St. Louis Cathedral, or Jackson Square, or more of these fun things to do in New Orleans that offer a mix of culture, history, and entertainment.
4. Las Vegas, Nev.
Viva Las Vegas is not expensive to fly to right now, as prices are 16 percent lower than average. I feel like I don't even need to tell you why you would possibly want to go to this city, as everyone knows how many attractions Vegas has to offer.
5. Houston, Texas
If you want to visit the hometown of Beyoncé, you'll find yourself in beautiful Houston, Texas, whose flight prices are also conveniently 16 percent lower during this price dip. Besides being the birthplace of Queen Bey, Houston also has a lot to offer in the arenas of shopping, dining, museums, parks, and galleries.