By Arlenys Tabare
Memorial Day or Memorial Day is one of the most anticipated holidays for Americans. It will be celebrated on May 25 of this year, so seasoners will be able to enjoy a long weekend; However, the increase in fuel prices could stop some from leaving the city.
Currently, according to AAA data, the price of gasoline is $4.56 per gallon; However, as the weekend approaches, analysts like GasBuddy predict that fuel could reach $5 per gallon.
Until now, The price of gasoline has increased by more than 50%, pressured by the skyrocketing of energy costs due to the closure of the Strait of Hormuz due to the development of the war against Iran, so, if the conflict in the Middle East is not ended, “this will be the most volatile summer at the gas stations in years,” highlights Patrick De Haan, an oil expert at GasBuddy.
For the specialist, “Americans will pay billions more to reach their destinations this summerand even after the Strait reopens, it could take a year or more for prices to fully recover,” he told CBS.
But it is not only at the gas stations that Americans will feel the hard blow to their pockets; Flights will also increase, both nationally and internationally, due to the increase in airplane fuel. Even many Airlines informed their users that this summer they not only expect to pass on additional costs to tickets, but they will reduce their routes.
In this regard, Yuvraj Datta, director of sourcing and revenue at Fareportal, a travel technology company, described the exact situation of the airlines as “unusually fragile”, while explaining that “flammable can represent 30% of the operating costs of a flight, which means they are raising fares and cutting routes that cost them more money to put planes in the air than they make them.”
However, despite the high prices, the Transportation Security Administration expects at least 18.3 million tourists this year between Thursday of this week and Wednesday of next, while AAA points out that About forty-five million Americans will leave home for nearby places.
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