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Memorial Day travel bug bites US

By Tara Baukus Mello · Bankrate.com
Wednesday, May 21, 2014
Posted: 6 am ET

A whopping 88 percent of travelers are expected to opt for auto trips this holiday weekend.

A whopping 88 percent of travelers are expected to opt for auto trips this holiday weekend.

If you are ready to hit the road this weekend, you're not alone. Memorial Day holiday travel is projected to reach a new post-recession high with 36.1 million Americans taking a trip, according to AAA. If that projection holds true, that's the second highest travel volume since 2000 and 2.6 percent higher than the 10-year historical average.

"The winter blues appear to have given Americans the travel bug and a case of cruise cabin fever," says Marshall L. Doney, AAA Chief Operating Officer. Doney also says the improving economy is increasing consumer spending, disposable income and consumer confidence, leading to an increase in travel.

A whopping 88 percent of travelers (31.8 million) are expected to travel by car this holiday, which officially begins Thursday, May 22 and goes through Monday, May 26. Fortunately, their fuel costs shouldn't impact their budget too much since AAA expects gas prices to be similar to or even slightly lower than last year, due to increasing fuel supply.

Looking to reduce your fuel costs? Read about four strategies to save money on gas.

Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.

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