Home World Americans brush off high fuel prices and prepare for record July 4th travel | Business and Economy Updates

Americans brush off high fuel prices and prepare for record July 4th travel | Business and Economy Updates

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Americans brush off high fuel prices and prepare for record July 4th travel | Business and Economy Updates

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A record-breaking 71 million people are expected to travel over the upcoming long weekend, marking a significant rebound in travel numbers compared to pre-pandemic levels. Despite high fuel costs and the threat of a hurricane, Americans are eager to hit the road and kick off Fourth of July holiday festivities.

According to motorist group AAA, around 60 million people will drive to their destinations, while nearly 6 million will fly and 4.6 million will take buses, trains, or cruises during the holiday period. This surge in travel is being seen as a positive sign for consumer sentiment and economic recovery in an election year.

Even though petrol prices have eased slightly in recent months, they remain higher than historical levels. However, this doesn’t seem to be deterring vacationers, as a survey by American Trucks showed that travel plans are largely unaffected by higher prices. Fuel demand has also hit new highs, with retailers stockpiling before the holiday.

Despite the threat of Hurricane Beryl, travel in the US is expected to continue as planned, with fuel inventories providing a buffer in case of any disruptions in refining operations. With consumer psyche largely unaffected by stable fuel prices, Americans remain optimistic and eager to travel.

Overall, the upcoming holiday weekend is set to see a surge in travel activity, reflecting a strong desire among Americans to get back on the road and enjoy the summer months after a challenging period of restrictions and limitations due to the pandemic.

Source
Photo credit www.aljazeera.com

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