Average domestic airfare rose 6.2 percent in the third quarter of 2011, when compared to the average fare during that same time period in 2010, the Department of Transportation’s Bureau of Transportation Statistics reported today.
The average cost of a ticket for a domestic flight in the 2011 third quarter was $361, up from $340 last year. The third quarter of 2011 is the most recent time period for which data are available.
Although up from the year before, the average cost of $361 was less than the second quarter average for domestic airfare, which reached $370, and was the highest average fare recorded since 1995 (not adjusted for inflation).
Also included in the report by the Bureau of Transportation Statistics, was a breakdown of the average ticket price at each of the major U.S. airports. The airport in Atlantic City, N.J., had the lowest average ticket cost at $167, and the airport in Cincinnati, OH, had the highest average ticket price at $488.
To come up with the average cost per ticket, the DOT bases its calculations on the total ticket value, which in addition to the price charged by the airlines includes any additional taxes and fees levied by an outside entity at the time of purchase. The DOT's calculations do not account for other fees, however, such as baggage fees.
Federal rules for airfare transparency went into effect this week, requiring airlines disclose all fees associated with ticket prices upfront, so you know what the final cost of your ticket is at the beginning (not the end), of your transaction.
For advice on how you can save on airfare check out our tips for locking in a low price on plane tickets.