Nearly three million Texans are expected to take a road trip this Memorial Day weekend. According to AAA, nationwide the average gas price is higher than it’s been in seven years. Airfare, hotel, and rental car rates are also rebounding.
At the Austin Airport travelers are warming back up to their old jet-setting ways.
“I really just started to kind of get back into traveling. I traveled to go to college last semester and that was about all the travel I did during the heat of the pandemic, “ says traveler Frank Muehlenn,
However, cheap pandemic flight prices are now long gone.“In the beginning flights were like 50-60 bucks, and now everything’s like tripled in price,” adds traveler Joanna Schrobo.
“It’s not just a perception. Prices are rising right now,” says Michael Sury, finance lecturer and managing director for the Center for Analytics at UT-Austin. Sury says economic data shows inflation is on the rise.
If your next trip or hotel stay costs more than expected it’s likely due to increased demand.