Despite gas prices ticking back up, millions intend to travel for July 4th holiday, AAA says

Days after AAA noted a new record high of 4.5 million Floridians will travel for the July 4th holiday, the state average for unleaded gas took a 13-cent jump.

Sunday’s state average was $3.35 per gallon. The average fell to $3.23 on Tuesday but took as much as a 20-cent jump during the middle of the week — many of the retail stations sitting at the $3.19 figure were up to as much as $3.39 by Friday.

That verifies with AAA’s local data for the Orlando area, which showed a $3.19 average last Sunday, and a $3.348 average this Sunday. 

“Oil and gasoline futures prices rose the past two consecutive weeks, which raised the cost of producing gasoline,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Futures prices reportedly increased on data that fuel demand is outpacing fuel inventories. Price fluctuations like this is very common during the summer travel season.”

The U.S. price for crude was back above $80 per barrel, after trading in the mid to low 70s during the past few weeks. Friday’s closing price of $80.73 per barrel is 7% more expensive than two weeks ago. 

Last Independence Day, the state average was $3.26 per gallon, but it appears a high gas price is not detering people’s holiday travel plans.

“The summer travel season is off to a hot start and we expect to set new travel records on the road and in the sky during the week of Independence Day,” said Debbie Haas, Vice President of Travel for AAA – The Auto Club Group. “There will be 3.5 million more travelers than last year.