AAA projects 1.2 percent increase in Memorial Day travel

By The Associated Press

WASHINGTON — Lower gas prices are part of the reason Americans will be on the road for the Memorial Day holiday. AAA projects 34.8 million Americans will travel 50 miles or more from home over the holiday weekend. That’s up 1.2 percent from one year ago.

Retail gasoline prices dropped by a penny to a national average of $3.71 per gallon recently. That’s 22 cents less than the high of $3.94 per gallon reached in early April. Lower oil prices are the main reason. Weaker demand is also helping to push down prices, as consumers watch their spending in the sluggish economic recovery.

A survey of travelers did find 53 percent saying pump prices would not impact their travel plans.

AAA’s survey finds that more than seven percent of holiday travelers — or more than 2.5 million people — will fly during the holiday weekend. That’s down 5.5 percent from last year.

Click here for Northeast Mississippi gasoline prices later today at Biz Buzz blog.