I'd wait for cheaper fares from SW. From my experience, the SW fare did not drop until just under 3months from the travel date. I got nervous and booked with Delta for $50 more pp because Delta's flights were filling up. If I waited, I could have saved $200. I guess it's not that bad, if it was $400, I'd be kicking myself. But I wanted piece of mind that we had seats on the flights that we wanted (we're traveling w a 4 YO and 15 month old, so that was also a major consideration). If they were older, I probably would have waited it out.
There are so many factors right now that could affect travel. Yes gas/oil are going up which could increase fares, but going to war could keep people home and they may be trying to fill the planes soon. If you can afford to wait, I'd do it!!