42 Million Americans Will Travel Over Memorial Day

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The American Automobile Association (aka AAA) is predicting that 42 million Americans will travel over the 2018 Memorial Day weekend.  This is nearly 5% more than last year and the highest in over 12 years.  AAA cites the strong economy and growing consumer confidence as reasons behind the increase.

“The highest gas prices since 2014 won’t keep travelers home this Memorial Day weekend,” said Bill Sutherland, senior vice president, AAA Travel and Publishing. “A strong economy and growing consumer confidence are giving Americans all the motivation they need to kick off what we expect to be a busy summer travel season with a Memorial Day getaway.”

And, what about those supposedly high gas prices?  AAA says the average nationwide price for a gallon of regular gas this Memorial Day Weekend will be $2.93, which they alarmingly say is the highest since 2014, when it was $3.65.  However, they forgot to tell you that in 2008 the average price of a gallon of gas was $3.94! Which, when adjusted for inflation, is more like $4.56…..and if you adjust the 2014 average for inflation you get $3.84.  Indeed…

Average national gas prices over the last 10 years, according to AAA:

  • 2008 = $3.94
  • 2009 = $2.42
  • 2010 = $2.73
  • 2011 = $3.79
  • 2012 = $3.64
  • 2013 = $3.63
  • 2014 = $3.66
  • 2015 = $2.74
  • 2016 = $2.32
  • 2017 = $2.37

Click here to read the full report on AAA.

Click here to see the average gas price in every state, updated daily by AAA.

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Director of Education & Outreach, National Real Estate Investors Association

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