Memorial Day airfare, gas higher

AAA said on May 11 that 45 million Americans are expected to travel at least 50 miles from home over the Memorial Day holiday, setting a record for the weekend and putting more drivers and fliers into a market where fuel costs remain elevated. The group said 39.1 million people are projected to travel by car and 3.66 million by air between Thursday, May 21, and Monday, May 25. AAA also said gas prices are higher than they were a year ago, even as many travelers who booked flights early locked in cheaper fares before jet-fuel costs rose. U.S. gasoline prices and jet-fuel benchmarks both moved higher in recent weeks, according to federal and AAA data. ### How many people are expected to travel over Memorial Day weekend? AAA projected 45 million travelers for the holiday period, up from 44.8 million a year earlier, according to its May 11 forecast. The group said that would be a Memorial Day weekend record. The largest share is on the roads. (newsroom.aaa.com) AAA said 39.1 million people are expected to drive, accounting for 87% of holiday travelers, while 3.66 million are expected to fly and another 2.2 million are projected to travel by bus, train or cruise. ### What is happening with gas prices right now? (newsroom.aaa.com) AAA listed the national average for regular gasoline at $4.528 a gallon on May 15. In a May 14 update, the group said the average was a couple of cents lower than the prior week but still elevated, with crude oil near $100 a barrel. The U.S. Energy Information Administration said the national average retail gasoline price was $4.500 a gallon for the week of May 11, up 4.8 cents from the previous week and $1.38 higher than a year earlier. (newsroom.aaa.com) The agency’s regional data showed West Coast prices at $5.613 a gallon and East Coast prices at $4.336. AAA said drivers are paying more than they were last Memorial Day, when the national average was $3.17 a gallon. (gasprices.aaa.com) The group said current pump prices are the highest since the summer of 2022. ### Are flights getting more expensive too? AAA said average round-trip domestic flights for Memorial Day travelers were 6% cheaper than a year earlier, with an average ticket price of $800, based on what travelers paid when they booked. (eia.gov) The group added that most of those trips were booked before rising jet-fuel prices began affecting airfare. (newsroom.aaa.com) The jet-fuel market has moved up. EIA spot-price data showed U.S. Gulf Coast kerosene-type jet fuel at $4.111 a gallon on May 11, compared with $3.992 on May 8 and $3.913 on May 6. That split means early bookers may have seen lower fares than travelers searching closer to departure. AAA did not publish a percentage increase for late bookings, but it said higher jet-fuel prices were starting to affect airfare. (newsroom.aaa.com) ### Which days and places look busiest? AAA said the Memorial Day travel window runs from Thursday, May 21, through Monday, May 25. (eia.gov) For rental cars, Hertz told AAA that Thursday and Friday are expected to be the busiest pickup days. AAA said Orlando, Las Vegas, Los Angeles, Denver and Boston are the top five rental-car markets by demand for the holiday weekend. (newsroom.aaa.com) The group also said it handled more than 350,000 roadside-assistance calls over the Memorial Day weekend last year. ### What should travelers watch next week? (newsroom.aaa.com) May 19 is the next scheduled release date for EIA’s weekly gasoline and diesel update. May 20 is the next scheduled release date for EIA’s petroleum spot-price table, which includes jet fuel. Memorial Day itself falls on Monday, May 25, and AAA’s forecast covers travel from May 21 through May 25. (newsroom.aaa.com) Those updates will give the next official read on whether pump prices and fuel benchmarks are still rising as the holiday approaches. (eia.gov)