Skyrocketing energy prices have hit summer holiday costs in the United States, with hotels, airline fares and other travelling expenses jumping alongside diesel and petrol.
US gas prices hit an unflattering new record high of $5.50 per gallon in May, before descending slightly to a national average of $4.45 on Saturday. With inflation also steadily on the rise, people are increasingly looking to adjust their budgets to the new reality of more expensive vacationing.
According to the recent data from the Bureau of Labor Statistics, the US airline fare index equally spiked 18.6 percent in April, "marking the largest one-month increase since the inception of the series in 1963."
Hotel prices have risen 40 percent, The Washington Post reported quoting a study conducted by travel research company STD. Prices of a one-night stay at a hotel in March stood at an average $147.15, significantly up from last year's $105. Airbnb and Vrbo renting services have also taken a hit, with prices rising by up to 13 percent compared to February 2021.
Thinking about renting a car and getting the show on the road? You might want to think again, with average car rental costing about $83 a day as of mid-March, up 19 percent from 2021’s average of $63, according to The Post. Maybe it’s time to consider postponing your road trip should you have one planned this year.