The Business Review
AAA predicts Memorial Day travel will rebound this year.
Far lower gas prices coupled with deeply discounted hotel rates, should lead 32.4 million Americans to travel at least 50 miles from home over the holiday weekend, AAA said. That would be an increase of 1.5 percent from last year.
“The good news is sharply lower gasoline prices and plentiful travel bargains have Americans feeling better about taking a road trip this summer,” said Robert Darbelnet, AAA president and chief executive.
According to AAA, retail gas prices average $2.26 a gallon nationwide, down from a high of $4.11 in July 2008.
AAA said it does not expect the national price of gas to go above $2.50 per gallon this summer.
The number of Americans planning to travel by car is expected to hit 27 million, accounting for 83 percent of those taking trips. Airline travel is expected to fall 1 percent despite a projected 4 percent decline in airfares.
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