Jacksonville, FLA. – As Labor Day weekend starts, travelers might notice gas prices and airfares are lower compared to years past.
AAA says booking data shows domestic travel is up 9% compared to last year and costs are down 2%, noting that last year’s average gas prices during Labor Day weekend were $3.81 but in recent weeks they’ve hovered around $3.50. While Hopper, a travel company, is seeing a 5% decrease in airfare this weekend.
Dr. Russell Triplett, associate professor of economics at the University of North Florida, explains that airline prices are related to fuel prices. Also, the airlines have a tendency to increase capacity but the demand for flights has slowed.
“Now they’re seeing more and more empty seats, and so they’re having to discount prices in a way that they haven’t done until very recently,” Triplett said. “So part of it’s very much the airline industry catching up to those market shifts in terms of gasoline.”
Triplett says the oil markets have their pattern compared to prices of other goods. He says the slowdown of the job market and consumer spending could be the reason we’re seeing cheaper gas prices right now.
“It’s good news in the immediate sense, especially for those of us looking to fill up,” Triplett said. “Forecasting further slowing in the global economy, especially in major economies like the U.S. or China, that can be somewhat worrisome, although, again, I think the signs are quite mild now and not a cause for panic.”
Rosita Fulton was traveling with her family to Davenport, which is about 33 miles outside of Orlando. They’ve traveled there from their home in Georgia many times over the years but today it was taking longer than usual to get there.
“It’s definitely busier because it would take two hours just to get here, but it took three,” Fulton said.
She feels gas prices were cheaper last year.
“We try to fill up before leaving out, and usually that tank will take us to where we need to go,” Fulton said. “But prices are definitely higher.”
Greta Kottmyer had a different experience traveling from York, Pennsylvania to Kissimmee Friday. Her family started driving at 2 a.m. and only hit a few problem areas along the way.
“We only really hit two rough spots, like right around Jacksonville, and there was another one earlier,” Kottmyer said. “Yeah, I think it was in the Carolinas. But other than that, it’s been a great trip. It’s just been calm and turned out great.”
Kottmyer noticed a slight decrease in gas prices while traveling. She expected to deal with more traffic as they got closer to Orlando.
“I think it’s a holiday weekend, and as we get closer to Orlando and closer to Interstate 4 it always gets heavier traffic, but I think it’s probably because it’s a holiday weekend, and I think more people are starting to come out and do things again,” she said.
AAA says the best time to travel on Saturday is after noon, while the worst time is between 8 and 11 a.m. On Monday, the best time to travel will be before 10 a.m., and the worst time happens between 11 a.m. and 8 p.m.