Should I wait to buy summer travel/plane tickets?

With the weak dollar, fluctuating oil prices, and poor economies, would it be wise to go early bird style, or wait a bit (if) prices come down?
PS: This is a trip to europe (Yeah I know, my wallet is going to take a hit no matter what i guess)

Go ahead and buy your ticket. I travel to Europe fairly often, check prices all the time, and often read articles about this issue. From what I’ve read (and experienced) prices are not likely to come down at all this summer. In fact, demand is up significantly this year over 2007. This coupled with summer being high season will keep the prices up (remember, a BUNCH of Americans just got passports for the first time because of the new border security measures…now they want to use them). Second, while oil may drift downward a bit on recessionary fears there’s little chance that it will fall enough for the airlines to lower prices. At this point the airlines are actually eating much of the increase in jet fuel they’ve faced in the past year.

You may also consider using a site like Farecast which uses historical data from the airlines to predict whether a particular fare will go down or up in the future.

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