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AAA Projects Record-High Memorial Day Travel

Record numbers of Americans will travel this Memorial Day holiday despite the highest gas prices ever recorded for a holiday. AAA estimates that 37.2 million Americans will travel 50 miles or more from home this holiday, a 2.2 percent increase from last year.

Approximately 31.1 million travelers (84 percent of all holiday travelers) expect to go by motor vehicle, a 2.2 percent increase from the 30.5 million who drove a year ago. Another 4.2 million (11 percent) plan to travel by airplane, up 3.2 percent from last Memorial Day. A projected 1.9 million vacationers (5 percent) will go by train, bus or other mode of transportation, about even with a year ago.

Holiday auto travelers will find national gas prices currently averaging $2.12 for a gallon of self-serve regular gasoline, down 10 cents from last month, but about 9 cents higher than a year ago. Before being broken several times this year, the previous national average record-high price was $2.05 recorded on May 26, 2004, coinciding with last year’s Memorial Day weekend.

Air travelers generally will be paying less to fly this weekend. AAA’s Leisure Travel Index shows flights over the holiday weekend averaging 10 percent less this year than last year. Rental car rates will be down about 4 percent. These savings will be offset by higher hotel rates, though, which are up 10 percent from a year ago.

“Pump prices may be higher than last year, but gasoline remains a relatively small part of most auto travelers’ vacation costs,” said Wendy Weigel, vice president of Travel, AAA Minneapolis. “Those who are flying will benefit from lower airfares, but will also encounter fuller planes and busier airports. However you travel, it will be busy.”

More: biz.yahoo.com

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