High Gas Prices Are Killing the Summer Road Trip
- People intending to vacation by car fell to 22.7% in June
- Analysts attribute a slowdown to exorbitant prices at the pump
Vehicles drive through Capitol Reef National Park outside of Torrey, Utah, on June 14.
Photographer: George Frey/BloombergThis article is for subscribers only.
The summer of “revenge travel” may be slowing as gasoline prices hover near record highs.
Americans planning on taking a vacation by car in the next six months dropped to 22.7% in June, according to data from the Conference Board’s index. That’s the lowest seasonally in over four years, excluding the summer of 2020 when the pandemic caused nationwide lockdowns. Around 36% of Americans surveyed this month intend to take a vacation within the next six months, the weakest June reading for any year in data going back over 40 years, excluding 2020.