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Gas Prices Will Be Cheap This Summer

It sounds too good to be true but according to the U.S. Energy Information Administration fuel prices could hit a 13-year low this summer. A recent article by the Associated Press pointed to several indicators of how low fuel prices give consumers more disposable income.

Choice Hotels CEO Steve Joyce said “Last year was a record summer for us. We’re going to be a lot stronger this year.” The hotel chain is seeing an increase in bookings.

Enterprise Rent-A-Car is seeing a 44 percent spike in reservations for the holiday weekend (Memorial Day.)

And AAA, one of the nation’s largest travel agencies and a car lobbying group, is predicting 38 million people will travel for the holiday, the most since 2005. That’s 700,000 or 1.9 percent more travelers than last year.

Airlines are also seeing an increase in reservations and fares for flights over the summer months have dropped 4 percent. Remember that some airports are reporting back-ups are occurring and delays at check-in are over 3 hours long.