Increasing gas prices may prompt travelers to pump the breaks and put a halt on their plans for a road trip. Gas prices could take a bite out of the travel market if American families pull back on spring and summer road trips.
According to AAA, gas near Yosemite National park in California, is already running close to $4.50 per gallon for regular. The east coast isn’t any better. In Washington, DC, the average price for gas has risen 40 cents over the last month to $3.68.
Business may drop a bit as people tailor their plans to suit their budgets if fuel prices stay high and continue to rise. For some, staying closer to home may be an option. That’s what travelers did during the summer of 2008 when fuel prices reached record highs, according to AAA national spokesman Troy Green in a recent CNN.com article.