The prices are what they are due to the algorithms concerning supply and demand, even though some of the claims about profiteering are valid.
Once things have settled down, I suspect what we'll see is prices stabilising and coming down, but overall average prices increasing. I suspect some markets had a surplus of capacity, so now there's been a big drop in available capacity the market will readjust itself and price accordingly. All that said, there will still be demand and I expect some of that lost capacity to be plugged by others, just like what we're seeing the likes of Jet2 and Virgin doing this month and for the rest of the year.
zfw mentioned Florida. We're going next September having booked a flight/accommodation package through Virgin Holidays early last month, however on our previous trips we've always booked flights and accommodation separately. I will do some price checking towards the end of the year when VS open for bookings through their website, however my gut feeling is that even before I consider USD currency fluctuations for the accommodation it will be more expensive to book separately had I left it. Either way, I'm glad we got our trip sorted when we did.