Will Rising Prices Change Your Travel Plans This Summer?
CHARLOTTE, N.C. — The un-official start to summer is here, with gas prices at an all time high, and hotel and airfares are up. But, travel is not slowing.
Triple A estimates more the 39 million people traveled at least 50 miles from home over the long weekend. This tracks with a growing trend known as “revenge travel.” People are insisting on traveling and “getting out” after two years of being stuck because of the pandemic. Depending on what source you check, domestic airfare is up around 40-45 percent. Hotel rates are up 42 percent. And, this Memorial Day, we hit an all time nationwide average high price for gas: $4.61 for a gallon of regular.
“As we progress beyond Memorial Day, I now peg our odds at $5 a gallon gasoline nationwide at 60%. So that could be coming. With an above average hurricane forecast, that is a high risk that we could see prices remaining elevated basically through Labor Day,” says Patrick De Haan at GasBuddy.com.
According to Forbes, some of the top travel spots include Florida, Hawaii, and Mexico.
Our question of the night: will rising prices change your travel plans this summer?
This episode’s panel features:
WCCB TV’s Morgan Fogarty
WCCB News Edge contributor Ashley Anderson
WCCB News Edge contributor and host of Live With The QCB on 94.7FM, Tremaine “QCB” Sloan