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AAA: 37 Million Americans Expected To Travel For Memorial Day Weekend

NEW YORK (CBSNewYork) -- More than 37 million Americans are expected to travel 50 miles or more for the Memorial Day weekend.

"We're seeing the strongest number of Memorial Day travelers in the past 10 years," AAA spokesman Robert Sinclair, Jr. told WCBS 880's Sean Adams. "We're thinking it's the economy -- unemployment is down, disposable income is up, household net worth is up."

AAA Anticipates Strong Jump In Memorial Day Travel

Approximately 89 percent will be traveling by car -- an increase of 5.3 percent over 2014 -- thanks in part to lower gas prices.

After bottoming out in February, prices at the pump have been on a slow but steady climb.

"They've been increasing slightly over the last few months, and in fact we're at the highest price point that we've seen so far this year," AAA spokesperson Nancy White told CBS2's Alex Denis.

According to AAA, some of the factors pushing prices higher are simply seasonal, such as more demand from summer drivers.

Others are unique to the current global economy, like a bump in crude oil prices, the dollar slowing its strength versus foreign currencies, and an anticipated increase in oil demand from China.

Although gas prices have risen in the past month, AAA says they're still lower than last year. This will be the cheapest Memorial Day gas price in at least five years.

"We're still about a dollar a gallon lower in New York compared to where we were a year ago," Sinclair said.

Gas Prices In Connecticut On The Upswing

In Connecticut, prices at the pump are about $2.65 for regular unleaded in Danbury and well over $3 in Greenwich.

Mike Fox, head of the Gasoline Retailers in Connecticut, notes the state's prices are always higher because of state gas taxes, but he thinks because of high inventory there could be a leveling off at $2.50 for regular unleaded at the pump.

"Right now we still could get prices down around $2.50 to $2.25 a gallon and I'm basing that on where inventory levels are," Fox told WCBS 880's Fran Schneidau.

Fox notes that even when inventory levels were half of what they are now, prices at the pump are higher than they should be. He said that can be blamed on a price push by major oil companies.

"[For] the major oil companies and speculators who sell crude oil contracts, low prices aren't great for them, they need to drive prices up to increase profits and when the federal government releases inventory numbers it just kills any of those increases that they've been able to get," Fox said.

Motorists are being reminded to keep their eyes up and focused on the road. Police will be looking for distracted drivers, as well as drunk drivers.

"It takes a distraction of only two seconds to result in a crash, especially at highway speeds," Sinclair said.

It's not just the roadways that will be busy this summer. Airline industry group Airlines for America said Monday it expects a record 222 million passengers to fly between June 1 and Aug. 31, up nearly five percent over summer 2014.

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