Could Airfares Drop In 2015?

Above, a fuel-efficient Boeing 787 Dreamliner. Photo by Armand Vaquer.

Oil prices have been dropping like a rock recently, but one could not tell this by the prices they have to pay for airfares along with the fuel surcharge fees.

However, one association who represents most of the world's air carriers says we can expect some lowering of airfares in 2015 thanks to the lower fuel costs.

According to TravelPulse:

The Geneva-based International Air Transport Association (IATA) said today it expects airline fares to drop while at the same time predicting record profits for the airlines to continue. 

But the savings to the consumer will be minimal and certainly not in line with the dramatic drop in oil. IATA said the airlines will cut fares as much as five percent, which doesn’t sound like much once you realize the cost of a barrel of oil has dropped 40 percent since June.

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