Dallas gas prices lower ahead of busy travel weekend
Texas has some of the lowest gas prices in the country — just in time for Memorial Day weekend road trippin'.
Why it matters: During the holiday weekend, an estimated 42.3 million Americans are expected to travel — a 7% increase over last year, per AAA.
- It is projected to be the third busiest Memorial Day weekend of the past 20 years.
- AAA and others are predicting near-record travel this summer, which could spike demand and lead to higher gas prices in the warmer months.
Between the lines: Though more people are planning to road trip this holiday weekend than last year, the travel volume will be lower than in 2019, before the pandemic.
- But despite high airfare costs, this could be the busiest Memorial Day weekend at airports since 2005, per AAA projections.
Zoom in: DFW Airport is expecting 1.1 million passengers to pass through the airport this weekend, a 1.7% increase over 2019's holiday weekend.
- And the busiest travel day will be today.
The big picture: Gas prices set all-time highs last year amid a broader inflation crisis, and driven in part by Russia's invasion of Ukraine, which destabilized global energy markets.
- And prices remain well above pre- and mid-pandemic levels, writes Axios' Alex Fitzpatrick.
By the numbers: The nationwide average price per gallon of regular gasoline is $3.53 this month, compared with $4.60 a year ago.
- In Dallas, the average is $3.08 per gallon this month, down from last month's average of $3.35 and last May's average of $4.34, per GasBuddy data.
The bottom line: Travel demand is rebounding after reaching historic lows during the peak of the pandemic in 2020, and continuing high inflation isn't putting a damper on people's desire to get away.
- 1 in 5 travelers say this summer's vacation plans are fueled by their lost travel plans of 2020, according to a survey conducted by Deloitte.
Dallas City Council to decide fate of Interstate 345
Dallas City Council could finally make a decision on whether to approve a Texas Department of Transportation recommendation to demolish and then trench Interstate 345 — or it could choose to delay its final decision until an independent study is completed.
State of play: For years, city leaders and state transportation officials have been debating what to do about the aging stretch of highway that connects U.S. Highway 75 to Interstate 45. The elevated thoroughfare will eventually become too costly to maintain as is.
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