GoKawiilThis July Fourth week, more Americans are expected to travel than last year, but not everyone will see savings -- proper planning is needed. Mark Lee/Getty Images
Fireworks, beach days and cookouts make July Fourth one of the most fun weekends of the year -- even with the record-setting heat wave coming our way. To me, this upcoming weekend is the peak of the summer season. This year, though, many travelers are planning with extra factors in mind: higher costs and more travelers than ever before.
AAA projects that 72.2 million Americans will travel at least 50 miles from home between June 27 and July 5, with an estimated 61.4 million expected to drive to reach their destinations. With inflated gas and ticket prices, you may be wondering how to keep costs down. Below, I'll break down some important travel stats and tips, so you can make the most of your holiday weekend.
Gas prices vs. the rest of your travel bills
Between filling up the tank and paying for lodging and airfare, you may feel like girding your loins and guarding your wallet this year.
For drivers, gas will be the major factor, as prices have reached four-year highs of more than $4 a gallon. Gas prices have been surging this year, beginning in March, in connection with the Iran War. Due to the conflict, oil shipping routes and crude oil supplies have been drastically restricted, leading to higher rates at the gas pump. For context, the average gallon of regular gas was just under $3 in the US before the Iran War began in late February.
AAA points out that although gasoline has gotten more expensive, filling up during a road trip can still be cheaper for many families than flying, especially when you're traveling with kids or a group and can split the gas costs.
Meanwhile, air travel is also not getting easier as AAA forecasts that 5.85 million Americans will fly over the holiday week (only a 0.2% increase over last year), and domestic flights are averaging around $830 per ticket. AAA says round-trip domestic flights to top destinations are about 5% more expensive than last year at this time, based on booking data.
Car rentals are expected to be roughly 10% more expensive than last year during this holiday week, according to AAA, with Thursday, July 2, slated to be the busiest pickup day. That means driving your own car might still be more economical than flying and renting a vehicle.
Don't forget charging costs for EV drivers
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