Record 42 million Americans are expected to hit the road for July 4 despite surging gas prices
A record 42 million people in the United States are expected to travel during the July 4 holiday weekend, despite the average gas price soaring to nearly $5 a gallon.
The average selling price of gasoline in the US recently passed $5 a gallon for the first time in history, AAA said Tuesday. It has fallen slightly and now averages about $4.96.
While the $5 price isn’t a record on an inflation-adjusted basis, it still represents an increase of nearly $2 a gallon from a year earlier. Despite higher costs, gasoline demand is only 1 percent below the average for this time of year in the United States.
The figure of 42 million, should it come true, would surpass the peak of 2019, when 41.5 million people traveled by vehicle on Independence Day, according to the American Automobile Association.
Including air travel, 47.9 million people are expected to travel 80 miles or more from home during the holiday season, just 2 percent less than 2019’s 49 million but surpassing the 2021 level, the tour company said.
The average selling price of gasoline in the US recently passed $5 a gallon for the first time in history, AAA said Tuesday. The current average is $4.96
Researchers argued in a 2021 report that congestion has built up month after month in the US since the pandemic (Pictured: Philadelphia rush hour traffic in April 2019)
A graph shows a sharp drop in traffic during the pandemic and steady increase in 2021
“The number of travelers we expect to see during Independence Day is a clear sign that summer travel is kicking into high gear,” said Paula Twidale, senior vice president of AAA Travel. ‘Earlier this year we saw the demand for travel increasing and it is not declining.’
Through April 2022, 1,017 trillion vehicle miles were reported, according to the U.S. Department of Transportation, a rate lagging behind only in 2019 and 2018 in terms of pace.
Travel chaos also remained in the air on the first official day of summer, as 222 flights had already been canceled by noon EST Tuesday amid staff shortages, record inflation and rising gas prices.
According to flight tracker Flight awareMore than 200 flights were canceled in, to or departed from the United States Tuesday morning, and nearly 600 flights were delayed — with Delta and American Airlines each delaying 2 percent of their scheduled flights.
TomTom satellite navigation system company collected data from millions of GPS signals from cars and smartphones around the world to analyze traffic patterns in more than 400 cities. New York (pictured in 2015), Philadelphia, Las Vegas and New Orleans reported congestion at near-normal levels, only 1 to 2 percent less in 2021 compared to 2019
New York City area Newark Liberty International Airport appeared to be the worst performer on Tuesday, with 5 percent of outbound and inbound flights cancelled, followed by Boston’s Logan Airport, which canceled 2 percent of its outbound flights and 1 percent of its inbound flights. to flee.
The summer chaos comes after more than 1,700 flights were canceled on Thursday and more than 1,100 flights on Friday — which saw a pandemic-high passenger volume as more than 2.4 million people passed through Transportation Security Administration checkpoints.
By Saturday, CNBC reports, more than 6,300 flights were delayed to or departed from the United States and 859 flights were canceled – and more than 900 flights were canceled on Sunday.
Monday also saw more than 3,600 flights delayed in, or entered or out of, the United States, with more than 380 cancelled.
In all, about 3 percent of scheduled flights were canceled this month, up 1 percent from the year before — and the total number of cancellations rose 16 percent to 13,581 flights from a year ago, according to the report. Wall Street Journal.
LOS ANGELES, CALIFORNI: Mass cancellations and delays continued on the first official summer day Tuesday morning, with more than 200 cancellations reported across the country
ATLANTA, GEORGI: More than 1,000 flights were delayed as of 12 a.m. EST Tuesday in, to and out of the United States
Airlines say the backlog in flights is as travel demands rise to pre-pandemic levels, but staff remain under pressure after massive layoffs from COVID-19.
At the same time, the US dollar is getting a boost from rising interest rates and gas prices soaring.
The US trade-weighted real exchange rate index, prepared in 2006, is now at an all-time high and the reference price for Brent oil is around $115 a barrel.
‘It is not good at all for airlines. It’s the perfect storm,” Tony Webber, former chief economist at Qantas Airways in Australia, said at the International Air Transport Association’s annual meeting in Doha, Qatar.