Gas prices have come down and stabilized over the past few years, a welcomed relief after the average price per gallon for regular gas soared above $5 in 2022. At the time of this publication, it’s sitting at a more affordable $3.06, according to AAA.
Still, you may want to skip the road trip and take a flight to one of your favorite destinations. If you do, read on to learn why flight prices fluctuate and get four insider secrets that can help you book cheap airfare.
[Related:Airport Costs to Splurge On and Avoid]
Why Do Flight Prices Fluctuate?
Flight prices are determined by a complex algorithm that includes factors such as oil prices, the global economic outlook, internal projections, competitor rates and historical data, according to Scott Keyes, founder of Going, an airfare price monitoring platform, and author of “Take More Vacations.”
“Airfare is one of the most uniquely volatile things we purchase,” Keyes says. While it can be frustrating for a consumer, he says, “it can present an opportunity. Today’s expensive flight might be tomorrow’s cheap flight.”
Timing Matters: Not Too Early, Not Too Late
Many guidelines on the cheapest day or time to book flights are outdated.
“Airfare is unpredictable,” Keyes says. “The best way to time it is to think in terms of ‘Goldilocks’ windows: Not too early, not too late, in the middle, just right.”
The general rule is that for domestic flights, travelers should start searching for flight tickets one to three months in advance. For international flights, the best prices are typically available from two to eight months in advance.
“A lot of people like to plan a year in advance. But guess what: In mid-April, if you’re planning for Memorial Day, that’s OK,” says Joe Brancatelli, publisher of the travel website JoeSentMe.com. “If you delay your planning for Memorial weekend until April, you may pay more but you may pay less.”
Prices can also vary widely among airlines.
“With Southwest and Spirit, you’re still going to get the cheapest fare further out,” says Edward Russell, an aviation and transport journalist. “If you’re looking to fly American or United, they’re holding inventory, so it’s a roll of the dice.”
Set Alerts and Do Your Research
To purchase at the lowest ticket price, Keyes suggests exercising patience and researching flight prices daily to get the best deal.
“Your best strategy is just to be patient and wait for those $1,000 flights to drop down to $400. More often than not, they will, so long as you’re looking far enough in advance,” Keyes says.
Travelers can use alert services like those offered by Google Flights or Skyscanner to keep tabs on prices for certain routes.
[READ: Does Google Flights Really Save You Money?]
Be Flexible in Price, Destination and Timing
Travel experts say flexibility is king.
“Preserve your flexibility. It’s impractical not to book the nonrefundable fares from airlines because the gap between them and fully refundable fares is too large,” Brancatelli says.
“But don’t prepay hotels, car rentals or most other travel components. The difference in price isn’t that great. Flexibility has great value,” he adds.
You may also have to be flexible with your destination. Choosing a bucket-list travel destination like Myrtle Beach can be costly. Instead, consider lesser-known travel spots or big cities, like New York, Chicago or San Francisco.
Travelers can also try researching different days and times to travel to find the best deals.
Consider Seasonality Before Booking
Last, travelers can get good flight deals during the offseason or during the “shoulder months” between the offseason and peak season.
Those planning a trip during a peak period, such as midsummer, Christmas or New Year’s should start looking for domestic flights two to five months in advance — while keeping in mind the unpredictability of fuel prices and their effect on flight prices this year.
“Don’t book a bad fare just to do it soon, of course,” Keyes says. “There’s almost never an excuse to overpay, but one reason people do it is they don’t believe cheap flights can actually pop up.”
More from U.S. News
Is It Cheaper to Drive or Fly This Summer?
Things You Should Never Buy Used
4 Insider Secrets to Booking Cheap Airfare originally appeared on usnews.com
Update 01/13/25: This story was published at an early date and has been updated with new information.
