EAST PROVIDENCE, R.I. (WPRI) — It’s a good time to shop around for vacation deals since summer is starting to wind down, according to economists at Hopper.
Right now, a round-trip flight from Rhode Island to Grand Cayman is about $310, lead economist Hayley Berg says, while a trip to San Juan, Puerto Rico, runs about $260.
“Regular seasonality prices go down at the end of summer and into fall,” Berg explained.
A domestic flight is about $238, which is about 40% lower than the cost of a flight in May or June.
Berg said there are a few reasons for the decline in prices, including lower demand and the cost of fuel.
“We are also seeing some relief in jet fuel prices,” she said. “They had been over $5 a gallon earlier this summer, but it dropped significantly compared to that peak.”
This comes as the Consumer Price Index for July showed airline fares fell nearly 8%.
Consumers can expect to continue to get good deals for a few more weeks.
“We expect prices to be low between now and early September, but they will start to rise in September and October as travelers start to plan their holiday trip,” Berg added.