Americans expected to set record Fourth of July travel despite high fuel costs, bad weather

High fuel costs and the threat of a hurricane are not expected to dampen Americans’ desire to hit the road this summer, with vacationers preparing for record travel to kick off Fourth of July holiday festivities.

“We’ve never seen numbers like this,” AAA spokesperson Andrew Gross said. “2024′s travel seems to be what 2020 would have been, had it not been for the pandemic,” he added. Gasoline prices have eased over the past few months, with the national average price for a gallon of motor fuel at $3.50 on Tuesday, a 3 cent decline from last year. Domestic airfare is 2 per cent cheaper than last year, with an average domestic round trip costing $800, according to AAA booking data.

“What we have noticed is that it’s more about the rate of change than the price itself that affects the psyche of consumers,” said John LaForge, head of real asset strategy at Wells Fargo Investment Institute.

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