Record July 4 Travel Expected Despite High Fuel Prices and Hurricane Threat
AAA projects nearly 71 million Americans will travel, marking the busiest Independence Day holiday period on record.
- Gas prices are at their lowest for July 4 in three years, averaging $3.49 per gallon.
- AAA forecasts a record 60 million people will travel by car, with another 11 million flying or using other modes of transport.
- The Federal Reserve is monitoring travel as a measure of consumer sentiment in an election year.
- Hurricane Beryl poses a potential threat to Gulf Coast refineries, which could impact fuel prices.
- Despite inflation, consumer spending on travel remains strong, reflecting a robust demand for vacations.