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Gas Prices: Memorial Day Travel Not Too Hard On The Wallet

Memorial Day weekend travel is about the same on the wallet this year as compared to 2012.

According to the AAA Fuel Gage Report, the average cost of a gallon of regular unleaded in Escambia County was $3.40 Saturday, up four cents over a month ago. Last year, a gallon of unleaded gas averaged $3.39 per gallon on the Saturday of Memorial Day weekend.

In Molino, the gallon of gas was $3.39 at Highway 29 and Highway 97, while a gallon of gas was $3.35 at Highway 29 and Muscogee Road in Cantonment. Gas was at about $3.36 a gallon Saturday in Atmore.

AAA Travel projects 34.8 million Americans will journey 50 miles or more from home during the Memorial Day holiday weekend, a 0.9 percent decrease from the 35.1 million people who traveled last year.  The anticipated decline in holiday travel is predominately due to a decline in air travel of eight percent, fee fatigue among travelers and a waffling economy. The Memorial Day holiday travel period is defined as Thursday, May 23 to Monday, May 27.

“AAA is forecasting Memorial Day travel  to be slightly lower this year due to an to an up and down economy, the impact of the end of the payroll tax holiday on working families and a 30-year low in the percentage of working age people in the workforce,” said AAA President and CEO Robert L. Darbelnet. “Additionally, economic growth in the first quarter was strong, but the impact of the sequester is now beginning to be felt resulting in reduced economic growth expectations.  These and other variables are expected to result in few travelers this holiday. ”

Approximately 31.2 million people plan to drive to their destination, an increase of 0.25 percent from the 31.1 million who drove last year.  Almost nine out of ten holiday travelers (89 percent) will take to the nation’s roadways during the Memorial Day weekend, keeping automobile travel in the traditional lead as the dominant mode of holiday travel transportation.

A survey of intended travelers found that gasoline prices would have no impact on plans for 62 percent of travelers. Of the remaining 38 percent of travelers who said gas prices would impact their travel plans, 27 percent plan to economize in other areas.  Eight percent are planning to take a shorter trip and three percent will travel by an alternate mode of transportation.

Since national gas prices peaked at the end of February, motorists nationwide have felt welcome relief at the pump. However, current gas prices are in line with this time last year and not expected to have an effect on travel plans.