Labor Day travel: Cooling diesel prices will aid US consumers

The Transportation Security Administration (TSA) experienced one of its busiest weekends ever over the extended Labor Day weekend. AAA Northeast Senior Manager Robert Sinclair Jr. joins Wealth! to discuss the rise in holiday travel trends.

Sinclair Jr. notes that “the numbers are even higher” for Labor Day weekend compared to the Fourth of July weekend. He attributes this partly to gasoline prices (RB=F), which have seen some relief both year-over-year and month-over-month. However, he acknowledges that despite this, consumers are still feeling the pinch of economic pressures on their budgets.

Sinclair Jr. highlights one bright spot: the cooling price of diesel.

“With the lower price of diesel, that means the price of getting goods and services to market is going to be cheaper. Hopefully that’ll get passed onto the consumer and that will help ease inflation, and that will help everyone,” Sinclair Jr. tells Brad Smith.

He goes on to note major travel destinations for US tourists.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Angel Smith