3 On Your Side: Airline Ticket Prices Hit 6 Year Low
By Jim Donovan
PHILADELPHIA (CBS) -- Good news frequent fliers. The average price of an airline ticket in the U.S. dropped to 363 dollars in the fourth quarter of last year.
That's the lowest it's been since 2010 according to the Department of Transportation.
A big part of that drop is because of cheap oil. Paying less for oil helps airlines' profits and those savings could be passed on to you.
Also, with a little extra money, airlines can add more routes and buy better planes. Like fuel efficient ones which in the long run adds to the savings.
You can also thank some low-cost carriers for the cheaper tickets.
Airlines like Spirit and Allegiant have been expanding to new cities.
Putting pressure on some of the existing carriers to compete with cheaper tickets.