aaa 2 | DeSoto County News

23 percent of Americans are holding back on summer travel due to gas prices.

AAA says near record traveler numbers over Memorial Day weekend

AAA projects 38.4 million people will travel by car over Memorial Day weekend.

Much of the price increases were expected because of the time of year.

AAA says the main reasons are tepid demand and a low cost for oil, which is hovering around $70 per barrel.

AAA expects nearly 104 million people will drive to their holiday destinations, an increase of 1.8 percent compared to 2022.

Pump prices have lost 32 cents since their 2023 peak of $3.88 a month ago. This means drivers are saving about $5 every time they fuel up.

Elevated costs for gasoline are showing up in inflation readings, accounting for almost half the increase of inflation in August.

While the southern states have the lowest gasoline prices, drivers out west are paying the most per gallon.

The DeSoto County average price for regular unleaded on Sunday was $3.331 a gallon, according to AAA.

California remains the state with the most expensive gas per gallon, at an average of $5.057.