Published: Tue, May 29, 2018
Finance | By Kristine Clayton

Gas prices on the rise could affect holiday travel

Gas prices on the rise could affect holiday travel

Louisiana's average was $2.67 a gallon, up 3.4 cents for the week, 13.4 cents for the month and 51.3 cents compared to the same time a year ago.

"But expect this summer to remain the priciest since 2014 with a strong likelihood of the national average hitting $3 per gallon sometime this summer should we see any unexpected outages or geopolitical tensions flare".

The company anticipates the national average of unleaded regular to hit $2.95 per gallon on Memorial Day, a 65-cent increase over the holiday a year ago. Wyoming, Minnesota and OH round out the top six.

That drop, however, won't show up in this weekend's gas prices and is unlikely show up at all unless the price of crude oil stays at that level or falls lower.

"With this being the kickoff to the summer travel season, people are ready to take a break from the daily grind and travel with their families".

But even as the prices are surging, there are ways to save at the pump.

"That would absolutely be a concern because obviously it's a long drive and it can add up", said Matt Porter of Wheeling. Folks in some areas, such as San Francisco, are seeing prices near $4 per gallon. So the prices we're seeing now are really more the norm.

"For every 5 miles an hour you're over 50 miles per hour, the auto uses more gas trying to fight the extra wind resistance", said Sinclair.

The Ohio Department of Transportation said in a press release that almost 1.5 million Ohioans are set to travel this weekend.

Holecek says weather plays a bigger role in people's travel plans than gas prices.

Farmer says the hike can be linked to decisions made in DC.

Rising oil prices in recent months could cut into travel budgets, potentially leaving consumers with less money that would otherwise go to holiday shopping discounts.

The state will try to make travel easier this weekend by reopening lanes in construction zones where possible, the Illinois Department of Transportation announced Thursday.

Analysts say the high gas prices aren't expected to deter travelers, with nearly 37 million expected to hit the road during the holiday weekend, the highest volume for the holiday since 2005.

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