05/24/2022

U.S. Motorists Plan to Travel for Memorial Day

They will overlook the nation's high gas prices

Memorial Day weekend travel is expected to be the busiest in two years as more American drivers hit the road and shake off coronavirus lock-ins despite high fuel prices.

The kickoff to the summer driving season may indicate just how much consumers are willing to tolerate fuel price increases. Miles traveled by motorists rose 5.6 percent in the first three months of the year even as the price of a gallon of regular gasoline has jumped 50 percent in the last year, to more than $4.59 on average nationally, according to the American Automobile Association (AAA).

"Americans just don't seem to be having a major reaction yet to the high price," said Patrick De Haan, head of petroleum analysis at price tracker GasBuddy, who said the nation could see $5-plus prices before long.

Please select this link to read the complete article from Reuters.