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Thursday, 28 July 2016 10:17

Cheap Gasoline And A 3-Day Weekend To Fuel Record Travel

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If you’re road-tripping this
holiday weekend, you’re in good
company. With U.S. gasoline
prices the lowest in more than a
decade, travelers are expected to
hit the road in record numbers.
Nearly 43 million Americans
will travel for Independence
Day, the highest volume on record,
according to AAA in its annual
travel forecast. The nation’s largest
motoring group estimates about 85
percent will travel by car, as drivers
take advantage of the lowest
pump prices since 2005.
"It’s prompting more drivers
to take to the road," Nadia Anderson,
manager of federal affairs
at AAA, said in an interview.
"We’re seeing more people decide
to take that trip 50 miles or more
away from their home."
The average retail price for
gasoline is down 17 percent from
this time last year, according to
Heathrow, Florida-based AAA.
Regular unleaded gasoline
slid to $2.32 a gallon Thursday, the
cheapest price for this time of year
since 2005.
Three-Day Get-people are starting
to vacation, and
they’re driving instead
of flying,"
said John Auers, executive
vice president
at Turner
Mason & Co., a
Dallas-based energy
consultancy. "We’ll
see strong demand
all summer."
Americans
used an average of
9.72 million barrels
of gasoline a day in
the four weeks ending
June 17, the
highest level recorded since the
Energy Information Administration
started collecting weekly
consumption data in 1991.
Still, America’s travel bug
may start to wane as oil prices
rise, Auers said.
"This isn’t going to continue.
Gasoline demand growth is
going to slow," he said. But, "in
the short term, low prices have really
pushed consumers to travel
more.

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