Average domestic airfares for the third quarter of 2017 hit their lowest level in 23 years, falling to just $336, according to data released by by the U.S. Department of Transportation’s Bureau of Transportation Statistics. Before this, the record lowest quarterly fare was $346, for the second quarter of 2009.
Adjusted for inflation, the $336 average fare represents a 5.7 percent decrease from the third quarter of 2016, and a 30.2 percent decrease from the highest inflation-adjusted third quarter average fare on record, $481, which was measured in 2000. Inflation-adjusted fares have declines 28.5 percent since 1995.
