To wait or not to wait - regarding a particular Airplane price

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Prices are based on available seats within each fare class (and economy cabins can have numerous different fare classes or fare buckets in industry parlance).

The fact that you found a lower fare closer to departure simply means that on that flight there are still cheaper seats available. Airlines start with X seats in a fare class, when those seats sell the booking engine will show the next higher fare class. But depending on how sales are going for an individual flight, the airline's revenue department may decide to add more seats to the lower fare class to try and fill the plane. They could just as easily remove seats from a fare class if sales are ripping right along.

Airfares do appear go up as you approach your travel date, but this is due primarily to advance purchase requirements on the most deeply discounted airfares cause them not to be shown at 21 or 14 or 7 days prior to the departure date (depending on the fare class). So all you see are the more expensive fare classes

Airfares are constantly being adjusted, as is capacity within each fare class. You may find come Monday a totally different set of prices if you check the same flight combinations.

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