The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
Time to break out the old nationwide atlas road map — it’s going to be a great summer for road trips, thanks to low gas prices. You might want to splurge on an app or GPS with up-to-date traffic information, too, because lots of other families will have the same idea.
Gas prices are about $1 a gallon lower for most drivers as the summer vacation season approaches, a better-than 25% discount over last year. If you’ve fantasized about hitting the open road and seeing America’s great national parks, cheap gas could help make those dreams come true. For example, when I drove from New York to Seattle last year with my golden retriever Rusty, I spent $492 on gas. The same trip this year would cost closer to $350 — a huge difference.
AAA says that difference is certain to send more drivers onto America’s highways. Road traffic for the fast-approaching Memorial Day holiday will be up 5.3% this year, AAA says, soaring to 33 million road-trippers — the most in 10 years. Gas will be the cheapest in at least five years, AAA says.
“Following a harsh winter, many Americans are trading in their snow boots for flip-flops and making plans to start the season with a vacation getaway,” said Marshall L. Doney, AAA President, in a statement. “AAA is expecting more Memorial Day travelers this year than any time in the past 10 years as confident consumers come out of hibernation ready to explore national parks, beach destinations and America’s great cities.”
Drivers might understandably be apprehensive that gas prices will rise during the road-trip season, as they often do. And in fact prices have ticked up since they hit bottom this March. But the Energy Department said this week that it expects average prices to hover roughly around $2.50 through September. That’s assuming no surprise shocks to supply, such as a terrible storm.
The cheapest gas starts is in the southeast, by the way, in states like South Carolina — extending all the way through Missouri to Kansas, Wyoming, and into Idaho. So if you are wondering where to go, that’s not a bad place to start.
Not all the road trip news is good, however. AAA expects hotel prices to be considerably higher this summer, thanks to the economic recovery. The average nightly stay in a Two Diamond hotel is 16% higher this year at $144, AAA says. So maybe it’s time to take that gas savings and invest in some camping gear.
Keep in mind that you can make your summer travel spending go further by using rewards credit cards specifically designed with travel rewards in mind (here are some of the best travel rewards credit cards on the market). Keep in mind that using any type of rewards credit card, including gas rewards cards, is best reserved for people who don’t carry a balance on their credit cards from month to month since interest charges can wipe out any rewards you’d earn. Also, rewards cards are hard to get approved for if your credit score is subpar. You can check your credit scores for free on Credit.com to see where you stand before you apply.
Image: Digital Vision
April 11, 2023
Uncategorized
September 13, 2021
Uncategorized
August 4, 2021
Uncategorized