Labor Day Travel Seen Climbing 9% After Record US Summer

By Antonia Mufarech

August 19, 2024 at 12:54PM EDT

Traffic on highway 101 in San Francisco, California, US, on Thursday, June 29, 2023. More than 43 million motorists will drive 50 miles or more from their homes this Independence Day weekend, according to a forecast from AAA. Photographer: David Paul Morris/Bloomberg (David Paul Morris/Bloomberg)

(Bloomberg) -- Bookings for domestic travel over the US Labor Day weekend are up 9% from last year, according to motor club AAA.

While the estimate only includes travel booked through AAA, the data adds to a sanguine picture for summer fuel demand in the US. Domestic travel was forecast to reach a record over the July 4 holiday week, and seen at a 20-year high for the Memorial Day weekend before that.

Growth in travel has remained resilient in the US this year, supported by pump prices that are trending lower. Retail gasoline prices for Labor Day weekend are seen at $3.50 a gallon compared with $3.81 last year, said AAA.