Whether they’re hitting the road or boarding a plane, holiday travelers may find some welcome savings this season.
Lower gas prices are providing the biggest relief for drivers, with the average price in Florida hovering around $2.80 per gallon.
AAA estimates that about 7.5 million Florida drivers will travel at least 50 miles during the holiday week.
“Oil prices are at multi-year lows,” said Patrick De Haan of GasBuddy. “The myth is that demand is higher during the holidays, but it’s really not. Americans take the week off. Schools are shut down. There’s not a lot of gasoline demand, and that’s why gas prices are much lower in winter than they tend to be in the summer.”
Air travelers are also seeing savings. According to NerdWallet’s Travel Inflation Report for December, airfare prices are down 5.7% compared to a year ago.
During the peak travel window from Dec. 20 through Jan. 1, LendingTree reports that 41% of Americans expect to spend up to $1,000 on travel.
The study also found that 40% of travelers plan to drive for their holiday trips, while 29% say they are shortening or cutting back on travel altogether.
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