Released November 20, 2024 | SUGAR LAND
en
Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Warm-weather destinations are seeing a surge in rental activity for vehicles ahead of the Thanksgiving holiday in the United States, which AAA said will be the busiest ever.
Thanksgiving is November 28, though many holiday-goers tend to take a four-day weekend at least. When assessing its travel figures, AAA said this is the first year that it included the Tuesday before and the Monday after Thanksgiving Day to get a more comprehensive travel picture.
This year, AAA expects 79.9 million people will travel at least 50 miles from home during the holiday travel period, beating out last year's levels by 1.7 million should the forecast prove accurate.
"Thanksgiving is the busiest holiday for travel, and this year we're expecting to set new records across the board, from driving to flying and cruising," Stacey Barber, the vice president of AAA Travel, said Monday.
The overwhelming majority, some 72 million people, are expected to travel by car to reach their holiday destination. Vehicle rental company Hertz is expecting long lines in places like Miami, Los Angeles and Oahu.
In terms of gas prices, consumers are enjoying considerable relief at the pump. AAA on Tuesday put the national average retail price at $3.06 for a gallon of regular unleaded gasoline, compared to $3.31 this time last year.
Prices are falling on a variety of factors. On the supply side, the end of refinery maintenance for facilities has eased constraints on that end.
Meanwhile, the winter blend of gasoline that refineries start making in September is cheaper than the summer variety because there are fewer processing steps needed to keep gasoline from evaporating in the tank.
But it's crude oil prices that account for about half of what consumers see at the retail station. West Texas Intermediate (WTI), the U.S. benchmark for the price of oil, has been trending lower for much of the month, lingering in the upper $60 range in early Tuesday trading.
WTI had moved in the upper $80 range, though a strong dollar, ample supplies and global economic headwinds has bogged down the price lately.
Road travel, meanwhile, may be complicated for those getting a late start on travel to warmer climates. A two-week weather outlook from Industrial Info finds a blast of Arctic air is expected to descend on the Pacific Northwest, the Dakotas and into Montana next week. It could be warmer than usual for Texas, the eastern parts of the Great Lakes and in New England.
AAA recommends that travelers get an early start due to expected congestion. A trip next Wednesday from Los Angeles to Bakersfield, California, a 111-mile journey via Interstate 5, could take nearly four hours, the travel club warned.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Thanksgiving is November 28, though many holiday-goers tend to take a four-day weekend at least. When assessing its travel figures, AAA said this is the first year that it included the Tuesday before and the Monday after Thanksgiving Day to get a more comprehensive travel picture.
This year, AAA expects 79.9 million people will travel at least 50 miles from home during the holiday travel period, beating out last year's levels by 1.7 million should the forecast prove accurate.
"Thanksgiving is the busiest holiday for travel, and this year we're expecting to set new records across the board, from driving to flying and cruising," Stacey Barber, the vice president of AAA Travel, said Monday.
The overwhelming majority, some 72 million people, are expected to travel by car to reach their holiday destination. Vehicle rental company Hertz is expecting long lines in places like Miami, Los Angeles and Oahu.
In terms of gas prices, consumers are enjoying considerable relief at the pump. AAA on Tuesday put the national average retail price at $3.06 for a gallon of regular unleaded gasoline, compared to $3.31 this time last year.
Prices are falling on a variety of factors. On the supply side, the end of refinery maintenance for facilities has eased constraints on that end.
Meanwhile, the winter blend of gasoline that refineries start making in September is cheaper than the summer variety because there are fewer processing steps needed to keep gasoline from evaporating in the tank.
But it's crude oil prices that account for about half of what consumers see at the retail station. West Texas Intermediate (WTI), the U.S. benchmark for the price of oil, has been trending lower for much of the month, lingering in the upper $60 range in early Tuesday trading.
WTI had moved in the upper $80 range, though a strong dollar, ample supplies and global economic headwinds has bogged down the price lately.
Road travel, meanwhile, may be complicated for those getting a late start on travel to warmer climates. A two-week weather outlook from Industrial Info finds a blast of Arctic air is expected to descend on the Pacific Northwest, the Dakotas and into Montana next week. It could be warmer than usual for Texas, the eastern parts of the Great Lakes and in New England.
AAA recommends that travelers get an early start due to expected congestion. A trip next Wednesday from Los Angeles to Bakersfield, California, a 111-mile journey via Interstate 5, could take nearly four hours, the travel club warned.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
