Are You Traveling This Summer?
Gas prices are falling, not because OPEC did the right thing in increasing production but because people have decided they’re tired of being slaves to high gas prices and are finding other ways to spend their dollars. It’s interesting seeing how the reduction of demand is lowering gas prices, since that same thing doesn’t work when it comes to local utility companies and lower power consumption.
It begs the question as to whether there will be fewer people going on vacation this year. Some analysts have said that with the little bit of financial recovery the United States has had that they expect more summer travel, but I’m trying to figure out where they’re getting this from. That’s because they’re also saying that gas prices should continue to fall through the summer.
From where I sit that’s a major inconsistency. I can only think of two ways where there could be more vacations and less gas consumption. One would be having people going on vacation to locales closer to home. That’s a possibility but it would mean that traditional resort sites would probably suffer. The second would be more people taking the bus or train to go on vacation; the first isn’t normally a great vehicle for families and the second is still limited by capacity and, in some instances, locales that can easily be reached. A trip from New York To Florida on the train is going to take a couple of days; how many people are willing to give up so much of their vacation time traveling?
So it begs the question we started with; are you traveling this summer? If so, how are you doing it and where are you going, and are you worried about gas prices?