Motorists considering adding at least one summer road trip if gas prices remain low
INDIANAPOLIS, Ind.– Spring fever may be in the air, but American motorists already have summer road trips at the top of their mind.
AAA’s latest Gas Price survey found that if gas prices remain low, one in three Americans (33 percent) would likely plan another summer road trip while 27 percent would increase the distance of one – with Generation X more likely to do both than Baby Boomers. AAA expects the national gas price average this spring to reach $2.75, a savings of nearly 20-cents compared to last spring’s high of $2.92.
“Cheaper crude oil prices have helped to keep pump prices lower this winter,” said Jeanette Casselano, AAA spokesperson. “While we are seeing the national gas price average increase and mirror prices from this time last year, spring pump prices for the majority of motorists are not expected to elevate to the nearly $3/gal level of last May.”
However, motorists on the West Coast and in the Rockies region will likely see prices reach or exceed $3/gal, which is similar to last year.
In addition to increasing the number or mileage of summer road trips, the AAA survey shows that Americans said lower gas prices would encourage them to spend or save more, but this varies based on generation and region:
- The majority of Millennials (53 percent) and Gen X (49 percent) would put aside money for savings as compared to Baby Boomers (44 percent).
- Generation X is more likely to increase shopping/dining out, drive more on a weekly basis or use more expensive gas as compared to compared to Baby Boomers.
- Motorists in the South (11 percent) and West (10 percent) say they would use more expensive gas while five percent of those in the Mid-West (5 percent) and seven percent in the Northeast (7 percent) would be willing to upgrade fuel type.