Airline seats are now the cheapest since 2010

(FOX News) - There is some good news if you're in the market for an airline ticket.

The average domestic round-trip ticket in the third quarter was $372, down 6.2 percent from a year earlier, the Transportation Department's Bureau of Transportation Statistics said Tuesday.

Separately, the department reported that the price airlines paid for a gallon of fuel plunged 37 percent, to $1.46, between December 2014 and December 2015.

Airlines have been passing along some of their fuel cost savings to consumers, and competition among airlines has also heated up as ultra low-cost carriers like Frontier and Spirit, which offer cheap seats with no bells and whistles, give American, Delta and United a run for their money.

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