’Tis the season to be traveling. According to AAA, 98.6 million Americans will be traveling – in one way or another – during the holiday season.
From Tuesday, Dec. 23, to Sunday, Jan. 4, 98.6 million people in the U.S. will travel 50 miles or more. Compared to last year, this year’s projection is an increase of 4 percent, the highest growth rate for holiday travelers since 2009. By volume, 2014 holiday travelers will be the highest on record, which dates back to 2001.
As of press time, the average price for regular unleaded gas is $2.505, 50 cents cheaper than last year. Already at a five-year low, fuel prices are expected to continue to drop or remain stagnant throughout the holiday season.
Affordable fuel costs are driving people to hit the road rather than take to the skies. At an increase of 4.2 percent from last year, 89.5 million travelers will take a road trip. That is nearly 91 percent of all travelers. Airlines should expect around a 1 percent increase in travelers with 5.7 million Americans expected to fly to their destination.
Copyright © OOIDA