All over the world, fuel prices are on the rise. Truth be told, it is no different in the United States. In fact, these rising fuel prices are causing a number of people to cancel their travel plans. This goes for both business and leisure travelers. One thing is for sure, this could really hurt the travel industry, which is still trying to recover.
A new survey by the United States Travel Association, which involved some 2,500 people, found that higher gas prices would affect the summer travel plans of 54 percent of travelers who plan to go by car. Out of this, 26.8 percent of business travelers said that rising fuel prices would alter their summer travel.
Of course, these increased fuel prices have to do with rising oil prices. Currently, oil prices are above $100 a barrel. In the US, crude oil rose nearly 50 cents to $107.52 a barrel on Tuesday. Brent Crude went up another 32 cents to stop at $125.97.
Overall, this new poll found out that rising oil prices are not just affecting car travelers, but people who are flying as well. In fact, some 43 percent of leisure travelers and 25 percent of business travelers changed their plans to fly this summer because of increasing prices. One thing is for sure, these rising prices are really going to hurt airlines that have been having a hard time recovering ever since the economic downturn.
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Source: http://www.comparecarrentals.co.uk/news/327427639.html
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