Rising gas prices reduce summer travel plans for Americans

Americans can expect to pay another $200 for fuel this summer versus last summer, according to AAA.

Summer plans may be put on hold for many families as gas creeps up to the $3 per gallon mark, according to a report by the Orlando Sentinel. Drivers may curtail their road trips and summer vacation plans as a result of the higher gas prices that are expected to rise over the next few weeks.

Reports indicate that 49 or 50 states saw a gas price hack in the last week. This has caused many drivers to be more cost conscious of their summer plans. Gas hit a national high of $2.92 a gallon Monday, according to a report by AAA Daily Fuel Gauge. This is based on oil prices rising above $70 a barrel as of recent. Estimates suggest that oil barrel prices will rise to $90, according to AAA and the Oil Price Information Service, costing another 50 cents per gallon at the pump.

AAA has said that families can expect to pay another $200 for gas this summer than they did last year. A total of 31 percent of Americans make a 500-mile driving trip during the summer months, according to a survey by Gas Buddy. This is down from the 56 percent of Americans that planned to travel in 2017.

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