The U.S. Department of Transportation’s Bureau of Transportation Statistics said the average domestic airfare in the first quarter was $315, down 5.9% from a year earlier. Compared to the fourth quarter of 2008, fares fell 9.1%, the biggest quarter-to-quarter drop recorded by BTS.
The average fare in the BTS quarterly survey hit a high of $360 in the third quarter of 2008. BTS has been surveying fares since 1995. Since the start, the average airfare has increased 6.1% compared to a 40.5% inflation rate, the government said.
(Emphasis mine.) Mind you, that’s following a period in which
The average airfare, for example, dropped by more than one-third between 1977 and 1992 (adjusting for inflation). It is estimated that ticket buyers saved as much as $100 billion on fares alone.