NEW YORK — Memorial Day Weekend is almost here, and despiteconcerns, millions of people are expected to travel. But, it’s not going to be cheap.
Expect toin your wallet if you decide to hit the road this weekend.
AAA just did an analysis of travel trends for the holiday weekend. More than 39 million people are expected to travel at least 50 miles from home, an increase of 8.3% over last year.
“Usually, if Memorial Day is busy, the summer will be busy, and it’s looking very busy indeed,” Robert Sinclair Jr., of AAA Northeast, told CBS News New York. “For the rest of spring, on into summer, and even fall, we’re seeing travel bookings that are up 25 to 50%.”
Gas prices are sky-high, and prices throughout the Tri-State are above the national average. The average price per gallon in New York City is $5.04, in New Jersey is $4.76 and in Connecticut is $4.68.
“Despite the fact that gasoline is at near all-time highs, folks are taking advantage of having some extra time off and getting out there and trying to do something. They’ve been cooped up for a couple years, so there’s just like wanderlust that’s gripping the nation,” Sinclair said.
According to AAA’s research, both air travel and hotels are going to cost more for travelers this summer. Hotel prices have risen 42%.
One bright spot is daily car rentals are down 16% over the past year.
Watch the video above for the full interview.