High Gasoline Prices to Reduce Spring Break Travel

A survey of Southern California’s AAA shows that current gasoline prices are averaging $4 per gallon, causing fewer residents from Southern California to say that they are planning to take a road trip during the spring break.

The Auto Club’s yearly survey of its members shows that 47% have plans to travel at least one trip during the upcoming spring break, a rate that is lower than the 57% of last year and the 55% of 2011.

High gasoline prices today led 69 percent of the poll’s participants to say that they made at least one important household budget cut. That rate is higher than last year’s rate of 66 percent and the 61 percent rate of 2011.

However, those who are thinking of travelling during the spring beak will probably take several trips during the period. Due to the expensive costs of fuel, Marie Montgomery, the spokeswoman of the Auto Club, said that it is more likely that a lot of travelers are taking trips this year that are shorter and cheaper rather than longer and more costly.

The usual methods by which members of the Auto Club deal with high prices of gasoline include reducing unnecessary driving, cutting back on dining out, decreasing budgets on entertainment and reducing savings, according to the survey of the Auto Club’s 485 members.

Each gallon of regular gas costs about $4.17 per gallon in the L.A. region, a rate that is lower compared to last year’s $4.38 per gallon and below the highest posted rate in the area of $4.70 last October of 2012, according to AAA.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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