Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S. dollar driving crude futures up. As the cost of oil continues its surge, it is almost certain to dampen travel plans for millions of Americans heading into the Memorial Day holiday weekend and the upcoming summer months.
A new Rand McNally survey says two-thirds of Americans planning road trips this summer are either altering their plans to shorten their trips or canceling altogether. AAA predicted the number of Americans planning to drive more than 50 miles over Memorial Day weekend is down by 1 percent. Air travel will decline slightly as well, AAA said. "We're really in kind of tenuous territory," said Suzanne Cook, research vice president at the Travel Industry Association.
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