International airfares have increased by an eyewatering amount in the last two months

International airfares have surged by as much as 47 per cent in two months, according to travel deals website KAYAK.

CEO of the Australian Federation of Travel Agents, Dean Long, says it’s a perfect storm.

“We’ve got a massive supply of people wanting to travel, we’ve got less planes, less seats flying into the country and it’s never been more expensive to put fuel into the planes,” he told Ross and Russel.

“Hopefully it will start to stabilise towards the end of the year with more planes coming into the country.”

Mr Long says booking an economy round trip to London in the middle of August would cost between $4000 and $5000 if booked today.

Press PLAY below to hear what’s fuelling the skyrocketing prices + when they’re likely to drop