farecast.jpgFarecast, the web site which lets you see if airfares are headed lower or higher, has introduced a new, useful feature: A way to lock into a low price.

VentureBeat reported on the company’s test of this feature two months ago. Tomorrow (Monday) it is being rolled out publicly.

To repeat our example: Let’s say you’re planning a trip, say to Kansas on Dec 5, and Farecast shows a low price of $210 and further, predicts prices are going to drop over the next few days.

Now, rather than waiting, you can buy something called a “Fare Guard,” which lets you lock into any subsequent price drop automatically. Initially, the product will come at a promotional price of $3 through Feb. 1, but later will be priced around $9.95, Farecast tells VentureBeat.

Update: The New York Times has also just published a story on this.

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