Summer Airfare on the Decline

— -- Good news for summer travelers: airfare might actually be lower this year.

New data from airfare prediction app Hopper suggests that this summer will offer the cheapest tickets of the last seven. Travelers should expect to pay about $240 for a round-trip, domestic ticket this June, according to Hopper. That’s 12 percent cheaper than last year and 20 percent cheaper than two years ago.

Hopper predicts domestic airfare purchased in July and August will be even cheaper than June’s prices.

The site’s Consumer Price Index only looks at leisure airfare, taking business class, first-class and last-minute ticket prices out of its formula.

The lower prices could be attributed to a profitable airline industry buoyed by lower jet fuel prices. The Bureau of Transportation Statistics reported a U.S. airline profit of $25.6 billion in 2015, up from $7.5 billion in 2014.