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Cheaper gas not enough to boost summer driving
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Travelers fill up at a gas station for an early start on the Memorial Day weekend traffic in Valencia, Calif. This year, economists and tourism experts are expecting only a small uptick in summer travelers. Gas prices are lower but still high enough to keep some Americans off the road.
Associated Press
NEW YORK
Cheaper gas won’t be enough to get many more Americans on the road this summer. They’re still too worried about their jobs and the economy.
Economists and tourism experts are expecting only a small uptick in summer travelers. Gas prices are lower but still high enough to keep some Americans off the road. The job market is improving, but still shaky. And household debt remains high.
Those who do travel won’t feel free to splurge. The bulk of road trippers, experts say, will take shorter trips and reduce food and entertainment spending to conserve cash.
“Travel is about security,” said John Larson, vice president for IHS Global Insight, the firm that analyzed the AAA study. “If you feel less secure about your future, you may be less willing to take this trip.”
For Memorial Day weekend, auto club AAA estimates that 34.8 million Americans will take trips of at least 50 miles. That’s a half-million more than Memorial Day 2011 but equal to the number who traveled two years ago. Roughly 30.7 million — or 88 percent of those traveling — will drive, up 1.2 percent from last year, AAA says. Memorial Day tends to be a good indicator of summer travel overall.
Gas prices may keep some low-wage earners home.
But for the most part, Americans will buck up for gas, assuming they can afford to take a trip in the first place.