A record number of almost 71 million people are expected to travel around the United States during the upcoming Independence Day holiday weekend, according to a forecast by motorist group AAA. This growth trajectory is similar to pre-pandemic levels.
Despite high fuel costs and the threat of a hurricane, Americans are eager to hit the road for holiday festivities. Petrol prices have eased slightly in recent months, with the national average at $3.50 per gallon, making travel more affordable for many. Additionally, domestic airfare is 2 percent cheaper than last year.
Travel during the summer months will be closely watched this year as it could provide insight into consumer sentiment in an election year. However, Americans seem undeterred by higher prices, with vacation plans largely unaffected according to a survey by American Trucks.
The rate of change in fuel prices, rather than the actual price, seems to impact consumer behavior more significantly. Despite this, Americans are optimistic and eager to travel, with fuel inventories better stocked this year to buffer against potential disruptions caused by events like Hurricane Beryl.
Despite the hurricane’s devastation in some Caribbean islands, its impact on US travel is expected to be minimal. Overall, the outlook for holiday travel is positive, with Americans ready to hit the road and take to the skies for a much-needed break after a challenging year.
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