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Road Travel Projected to Rise 4.7% for Memorial Day Weekend

Road Travel Projected to Rise 4.7% for Memorial Day Weekend

Gas prices are between 40 to 50-cents higher this year than they were last year.

Gas prices averaged $2.72 in April, an increase of 33 cents from a year ago, due to expensive crude oil, record gasoline demand and shrinking global supply. The statewide average was $2.66 a week ago and $2.51 a gallon just one month ago.

The travel services firm, which tracks holiday travel throughout the year, said in a news release a total of 41.5 million Americans will travel for Memorial Day weekend this year, the most in more than 12 years.

Even as gas prices rise like outside temperatures, AAA analysts say they expect an additional 2 million people will take to planes, trains, automobiles and other modes of transportation.

Anchorage- $3.24/g, up 3.2 cents per gallon from last week's $3.21/g.

The U.S. Energy Information Administration last week just before the Trump Administration announced the decision to reimpose sanctions on Iran, predicted that nationally gasoline would average about $2.90 a gallon this summer - up from $2.41 a gallon last summer.

Higher gasoline prices also contribute to inflationary pressures, making it more likely that the Federal Reserve Board will boost interest rates.

South Dakota Average Gas Prices: Current Avg.

The national average on Sunday was $2.86 per gallon, up 5.7 cents from a week earlier.

Among U.S. destinations, Orlando was ranked the most popular for Memorial Day weekend, based on AAA advance travel bookings.

Last week, the average price for a gallon hit $3.

USA sanctions against Iran could further tighten the oil market, depending on what restrictions are put on Iranian oil exports, according to AAA.

Last week, Visit Orlando announced that 72 million visitors, the most in any US city, had traveled to Orlando in 2017, a record for the tourism industry.

"The highest gas prices since 2014 won't keep travelers home this Memorial Day weekend", Albert said. One myth to saving on gas was to turn off the vehicle's air conditioning but that is no longer the case because today's systems operate much more efficiently and don't drag as much on the engine.

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