The cost of domestic airfares is peaking after it more than doubled from April 2022, Australia’s consumer watchdog has revealed. 
The Australian Competition and Consumer Commission’s (ACCC) latest report predicted the upward trend will continue until at least October due to the growing demand for travel, high jet fuel prices and reduced capacity. 
According to the report, the price index of cheapest discount airfares jumped to 73.8 percent in August 2022, representing a rise of 56 percent over four months.  
“After about 18 months of historically low airfares, the cost of domestic flying has risen sharply in response to strong demand, temporary capacity reductions and very high jet fuel prices,” ACCC Chair Gina Cass-Gottlieb said in a media release on Sep. 7….