Excessive gasoline costs unlikely to discourage vacation vacationers – KIRO 7 Information Seattle

NEW YORK – (AP) – Gasoline prices on Memorial Day weekend are at their highest level in seven years, but experts don’t expect the high prices at the pumps to keep eager motorists off the road.

After more than a year of caution during the coronavirus pandemic, there is still some catching up to do when it comes to travel. And with vaccination rates rising and coronavirus cases falling, some people are taking the opportunity to change scenery on one of America’s traditionally busiest vacation weekends.

“The industry calls it ‘Revenge Travel,'” said Jeanette McGee, spokeswoman for the American Automobile Association. “People have more disposable income, they have saved a lot of PTO (paid free time) so they will travel more and spend more money.”

The national average for a gallon of regular gasoline this week was $ 3.03. Memorial Day weekend prices haven’t been as high since 2014, when they averaged $ 3.65 per gallon.

Prices have recently been slightly above the current average, in part due to fuel delivery problems caused by a cyberattack and the subsequent shutdown of an important fuel artery, the Colonial Pipeline. Gasoline prices have largely stabilized since that hacking incident, but prices are expected to stay in the $ 3 per gallon range over the summer, experts say.

The introduction of the vaccine has encouraged a gradual return to normal activities and a strong labor market supports work-related driving, but discretionary driving has room for growth, said Lenny Rodriguez, team leader at S&P Global Platts.

AAA estimates 37 million Americans will travel by car and plane over Memorial Day weekend. That’s 60% more than last year, when many viewed the pandemic even more carefully and stayed at home. But it’s still 13% below the pre-pandemic travel level reached on Memorial Day weekend 2019.

The association recommends filling the gas tank before arriving at vacation destinations, as gasoline prices can be higher near popular tourist spots.

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