More travelers worry about gas prices, inflation than COVID

More Americans are concerned about the impact of record-high gas prices and other forms of inflation-fueled price hikes on their summer travel plans than they are about the ongoing COVID-19 pandemic, according to the results of a survey released Tuesday.

Some 90% of Americans said gas prices were a consideration while they mulled whether to take a trip over the next three months, according to Morning Consult survey conducted for the American Hotel & Lodging Association. The same percentage said they were weighing the overall impact of inflation while considering travel plans.

The percentages were higher than 78% of Americans who said they COVID-19 case rates were impacting their travel considerations.

“The pandemic has instilled in most people a greater appreciation for travel, and that’s reflected in the plans Americans are making to get out and about this summer,” said Chip Rogers, the president and CEO of the AHLA.

“But just as COVID’s negative impact on travel is starting to wane, a new set of challenges is emerging in the form of historic inflation and record high gas prices,” Rogers added.

The national average price of a gallon of gas hit a fresh all-time high of $4.62 on Tuesday following a busy Memorial Day travel weekend. National prices are nearly half a dollar more expensive than they were just one month earlier.

In California, gas prices have already climbed well above $6 per gallon – contributing to a bleak outlook for motorists around the country if trends do not improve.

The survey found that 57% of Americans were likely to take fewer trips this summer due to the record gas prices, while 54% said they would take shorter trips.

About one-third of respondents, or 33%, said they were likely to cancel their trips entirely rather than face sticker shock at the pump.

Despite their concerns, 57% of respondents said they planned to take a family trip this summer, while 68% said they had a new appreciation for travel after the COVID-19 pandemic resulted in lengthy lockdowns.

Morning Consult conducted an online survey of 2,210 adults from May 18 through May 22 with a margin of error of plus or minus 2%.

Gas prices have surged in part due to disruptions in the global oil market. The Russia-Ukraine war has compounded existing supply chain issues for fuel shipments.

The US crude oil benchmark was hovering at $117 per barrel on Tuesday afternoon. The energy crisis is so severe that the head of the International Energy Agency warned it could rival the infamous fuel shortages experienced in the 1970s.

CNBC was first to report on the survey results.