Holiday Outlook: Number of Travelers Up, Gas Prices Down
Holiday travel is expected to increase during the July 4 period compared with last year, but the mid-week holiday is likely to result in more spread-out travel plans that could ease congestion. As reported by the Wall Street Journal, the fuel bill for road trips should be smaller, though gasoline is still far from cheap.
The travel-services group AAA estimates 42.3 million Americans will travel 50 miles or more from home during the coming holiday weekend, a 4.9 percent jump from last year. The projected travel volume will match the high point of the past decade, which occurred in 2007, and marks an increase of nearly 42 percent from 2009.
Road trippers will recall that the July 4 period was near the peak of a spike in gasoline prices in 2008, and many still-shell-shocked motorists stayed close to home in 2009. AAA defines the Independence Day travel period as July 3 to July 8.
Because July 4 is Wednesday, the usual five-day travel period grows to six days and gives people the option of including a weekend and two week days either before or after the actual holiday. AAA asked prospective travelers about their planned departure day, and 54% said they expected to begin their trip before the start of the week that includes July 4.
Lower fuel prices are helping to drive travel volume. The average price of regular gas in the U.S. is $3.44, almost 14 cents lower than last year and about 50 cents below the recent peak in April.
“AAA’s projection for a decade high number of Independence Day travelers is being fed by Americans’ appetite for travel, a mid-week holiday and lower gas prices,” said Bill Sutherland, vice president, AAA Travel Services. “This is the second holiday this year where travelers indicated a determination to travel while economizing by actively seeking value-added travel options and activities,” Sutherland said.