International airfares out of the U.S. hit a seven-week low during the last full week of May, according to Kayak, as the fare surge caused by the Iran war appears to be simmering down.
For the week that ended May 25, average economy round-trip international airfares from the U.S. were $1,028, down from $1,056 the previous week. That was the fourth consecutive weekly dip, according to Kayak, which aggregates data based on flight searches made on its platform. The data considers queries made for flights departing between one week and 12 weeks after the search date.
Average international airfares reached as high as $1,104 for the week that ended May 4. They were $773 for the week ending Feb. 23, the last full week before the war began.
Kayak's analysis doesn't consider normal seasonal variation in airfares. During May of last year, international airfares also dipped, but at a significantly slower rate than this year.
Average fares last year were $910 on the week ending May 4 and sagged to $875 for the week ending May 25. Overall, international airfares from the U.S. are averaging 17.5% more than they did a year ago.
Domestic airfares continued to climb in May, but at a slower rate than they climbed in March and April, and also at a slower rate than they climbed in May of last year, according to Kayak.
Domestic economy roundtrip fares averaged $388 in the week ending May 25, compared to $379 for the week ending May 4. Average fares were $336 in the final week before the Iran war.
Last May, domestic airfares rose from $290 during the week of May 4 to $307 during the week of May 25.
Airfares as of the week of May 25 were up 26.3% year over year, per Kayak.