Americans are wanting to travel this summer, lured by lower gas prices, but remain cautious, price-tracking service GasBuddy says.
GasBuddy projects that the national average price of gasoline this Memorial Day weekend will be $3.53 per gallon. That’s $1.10 less than it was in 2022.
According to GasBuddy’s 2023 summer travel survey, 64% of Americans are planning to take a summer road trip this year, up from 58% last year.
However, 60% of that group has yet to confirm their plans by booking accommodations, activities or other travel plans.
Fewer than half of survey respondents, 45%, said high gas prices were affecting their road trip plans this year. In 2022, that was 70%.
AAA was reporting the national average last week at about $3.54 per gallon. That’s about $1.03 less than a year ago, when the national average was about $4.57.
The average price in Pennsylvania was about $3.67 per gallon, about $1.07 less than a year ago, according to AAA. Averages in Southwestern Pennsylvania are higher, between $3.75 and $3.78.
The highest national average price, $5.02, was recorded June 14, 2022. Pennsylvania set its highest average, $5.07, two days earlier, on June 12, according to AAA.
While gas prices have dropped, the costs of other travel essentials, such as hotels and airfare, remain elevated. Nearly 40% of people said inflation and high prices overall have caused them to rethink their travel plans this summer, GasBuddy said.
“While gas prices are far lower in most areas than they were last year, Americans seem to feel a bit worse about the economy this year on the heels of rising interest rates, the bank crisis and inflation that has spiked, impacting their ability to take a road trip during the summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“While the number of Americans planning on taking a road trip is higher this year, we’re finding that many remain cautious about the direction of the economy and thus have not yet cemented those plans in, with some hinting that price uncertainty is making things challenging.”