(Bloomberg) -- U.S. travel over the May 25 Memorial Day weekendis poised to reach a 10-year high as Americans with more money intheir pockets are lured onto the roads by lower prices at thepump.
About 37.2 million Americans will travel more than 49 miles (79kilometers) from May 21 to May 25, a 4.7 percent increase from lastyear’s holiday and the second-highest level in AAA data.Trip-takers totaled a record 44 million in 2005, the Heathrow,Florida-based motoring club said Friday. About nine in 10 peopleare expected to drive.
Retail gasoline prices are below year-earlier levels by morethan $1 a gallon, dragged down by oil prices that collapsed amid aglobal glut of crude. That’ll translate into $700 in savings forthe typical American household this year, based on U.S. governmentforecasts. Relief at the pumps and falling unemployment willcombine to boost holiday travel spending, AAA said.
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