High gas prices this Memorial Day won’t prevent vacationers from kickstarting the summer of 2022, says AAA Northeast.
An estimated 39 million people, an 8.3% increase over last year, will travel more than 50 miles from home this upcoming holiday, bringing travel volumes near pre-pandemic levels. The Memorial Day holiday travel period is between May 26 – 30.
This holiday reflects the second-highest single year increase in travel volume since 2010 even though Connecticut and National gas price averages continue to break records.
“Memorial Day is always a good predictor of what’s to come for summer travel,” said Fran Mayko, AAA Northeast spokeswoman. “Based on our projections, summer travel this year is on fire.”
Of the overall 39 million travelers,
- An estimated 35 million will travel by car, nearly 5% higher last year, despite gas prices breaching the $4 mark. This year’s numbers are still 7% less than 2019.
- 3 million will fly, a 25% increase compared to last year, but 6% less than in 2019: and
- More than 1.3 million will use some other mode of transportation, such as buses or trains, a 200% increase compared to last year, but 30% less than 2019.
Historically, higher gas prices, airfares (up 6% from last year), and hotel rates (up 42% for mid-range accommodations) affect holiday travel volumes. “But this year, we’re seeing a pent-up demand to venture out by car and air,” said Mayko.
Today, Connecticut’s average gas price of $4.60 for a gallon of self-serve, regular again has set a record. Today’s average is $1.53 higher than last year.
On the National level, a new record also is also set today with an average price of $4.52 that is $1.47 higher than last year.
The high cost of crude continues to increase pump prices,” said Mayko. “Other global issues such as Covid-related lockdowns in China and a planned European Union embargo of Russian oil embargo are having an effect. Couple this with higher demand and the switch to the more expensive summer fuels in this country and you’re seeing higher prices at the pump.”