Low gas prices fuel record holiday travel, AAA says

U.S. travel during the Christmas and New Year holidays will rise for a sixth year to a record as low fuel prices contribute to disposable incomes, according to the nation's biggest motoring organization.

About 98.6 million people will journey 50 miles (80 kilometers) or more from Dec. 23 to Jan. 4, AAA in a statement. That's up from 94.8 million a year earlier and the most in data that began in 2001. Approximately 89.5 million people will drive, up 4.2 percent from last year, according to the Heathrow, Florida-based group.

“Lower gas prices are filling stockings with a little more cash to spend on travel this year as travelers are expected to pay the lowest prices since 2009,” Marshall Doney, AAA's chief operating officer, said in the statement. “Lower prices are increasing disposable income and enabling families to set aside money for travel this year.”

Air travel is forecast to grow 1 percent from a year ago to 5.7 million travelers, according to AAA.

U.S. regular gasoline at the pump averaged $2.545 a gallon on Dec. 14, the least since October 2009, according to data from the motoring group. The fuel's price has fallen 23 percent this year.