Surging Gas Prices Put The Brakes on Fourth of July Travel Plans

According to a Survey Conducted by Consumer Credit Counseling Service of Delaware Valley, 67 Percent of Low-Moderate Income Consumers Canceled Their Fourth of July Travel Plans

PHILADELPHIA, June 29 /PRNewswire/ -- Thirty-four percent of vacationers anticipating a Fourth of July getaway identified rising gas prices as a significant bump in the road this summer. Of that segment, 28 percent of people canceled their plans altogether, while 16 percent shortened their trip and another 10 percent postponed their trip, according to Consumer Credit Counseling Service of Delaware Valley's (CCCSDV) survey on the impact of higher gas prices. A full 67 percent of consumers with incomes of $21,000 - $30,000 canceled their Fourth of July travel plans.

A total of 417 people were surveyed on June 27 and 28, 2006, by Zoomerang Data Service. Respondents were pulled from Philadelphia, Montgomery, Bucks, Chester, and Delaware counties in Pennsylvania, and Camden, Burlington and Gloucester counties in New Jersey. The survey posed 19 questions about the effects of rising gas prices.

"As the region's leading educator on credit and the importance of savings, we wanted to understand the local impact that high gas prices are having on consumers' budgets and vacation plans," said Patricia Hasson, CCCS president. "With the recent rise in consumer credit card delinquency rates, we are continuing to see mounting debts for consumers and are particularly concerned about lower income consumers who reported the highest negative impact on Fourth of July travel plans."

Gloucester County residents reported the biggest kink in their Fourth of July plans due to rising gas prices. Exactly half of those surveyed noted a negative impact, and either shortened their trip (30 percent), postponed their trip (20 percent) or canceled it (30 percent).

Philadelphia County came in a close second, where 48 percent of residents blamed high gas prices for derailing their Fourth of July plans, as compared to only 13 percent of Burlington County residents whose travel plans this weekend were negatively impacted by the cost of fuel. Other county totals included: 35 percent in Bucks County, 33 percent in Delaware County, 29 percent in Montgomery County, 23 percent in Chester County and 20 percent in Camden County.

Overall, those surveyed were much more likely to cancel their Fourth of July trip (28 percent) than to take an alternate means of transportation (three percent).

According to the survey, the negative impact on Fourth of July plans suggests a similar negative impact on summer vacation plans. Thirty-two percent cited rising gas prices as the reason for changing their summer trip, while 22 percent of people shortened their vacation plans; 26 percent canceled their summer vacation.

"To help offset some of the higher gas expense, we recommend that consumers cut back where they can - consider using public transportation, taking day trips and doing more locally for vacation this year," said Ms. Hasson.

Fifty-four percent of people surveyed said they have cut back on driving altogether, and another 42 percent are staying closer to home these days.

A solid 70 percent of people are making the effort to reduce their spending in other areas, while 46 percent say soaring gas prices are causing them to put less in savings. Twenty percent said that gas prices are raising their level of debt.

However, 57 percent of people have acknowledged that the higher price of gasoline will have a long-term impact on their budget, and have altered their spending habits to offset the additional gas costs.

"Budgeting is key, especially as rising gas prices become a higher expense in a family's household budget," Ms. Hasson said.