Memorial Day: High gas prices will deter travelers this holiday
During this long weekend, gasoline prices at American pumps could touch $5 per gallon
Memorial Day or Memorial Day is one of the most anticipated holidays for Americans. It will be celebrated on May 25 of this year, so seasoners will be able to enjoy a long weekend; However, rising fuel prices could deter some from leaving the city.
Currently, according to AAA data, the price of gasoline is $4.56 per gallon; However, as the weekend approaches, analysts like GasBuddy predict that fuel could approach $5 per gallon.
So far, the price of gasoline has increased more than 50%, pressured by the spike in energy costs due to the closure of the Strait of Hormuz due to the development of the war against Iran, so, if the conflict in the Middle East is not ended, “this will be the most volatile summer at gas stations in years,” highlights Patrick De Haan, an oil expert at GasBuddy.
For the specialist, “Americans are going to pay billions more to reach their destinations this summer, and even after the Strait reopens, it could take a year or more for prices to fully recover,” he told CBS.
But it is not only at the gas stations that Americans will feel the hard blow to their pockets; Flights will also increase, both domestically and internationally, due to the increase in jet fuel. Many airlines even informed their users that this summer they not only expect to pass on additional costs to tickets, but that they will reduce their routes.
In this regard, Yuvraj Datta, director of procurement and revenue at Fareportal, a travel technology company, described the current situation for airlines as “unusually fragile,” while explaining that “fuel can represent 30% of a flight's operating costs, which means they are raising fares and cutting routes that cost them more money to put planes in the air than they generate.”
However, despite the high prices, the Transportation Security Administration expects at least 18.3 million vacationers this year between Thursday of this week and Wednesday of next, while AAA indicates that about 45 million Americans will leave home to nearby places.

