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Marketplace Morning Report

The cost of that Memorial Day travel

Marketplace Morning Report

Marketplace

News, Business

4.5927 Ratings

🗓️ 22 May 2026

⏱️ 7 minutes

🧾️ Download transcript

Summary

Memorial Day weekend is here, kicking off the summer travel season. More Americans are expected to hit the roads this year, but it comes at a time when gas prices are the highest they've been in four years — up about a $1.40 since the U.S. and Israel attacked Iran, and Iran effectively closed off the Strait of Hormuz. Also on this morning’s podcast: high-profile concert cancellations and a preview of consumer sentiment.

Transcript

Click on a timestamp to play from that location

0:00.0

Hitting the road and the wallet.

0:06.7

From Marketplace, I'm Sabrina Banishore in New York.

0:09.7

Memorial Day weekend is here.

0:11.9

The summer travel season has begun.

0:13.9

More Americans are expected to hit the roads this year than last.

0:17.6

They will, however, be met with the highest gas prices in four years.

0:21.5

Marketplaces Nova Saffo has more.

0:23.3

The national average for a gallon of regular gas is 456, according to AAA.

0:27.8

It's 409 in Texas, 613 in California.

0:31.3

Prices are up about $1.40 since the U.S. and Israel attacked Iran,

0:35.5

and Iran effectively closed off the Strait of Hermuz.

0:38.6

There are signs some Americans are adjusting their travel plans.

0:42.0

AAA expects 39 million people to hit the roads this weekend, an increase from last year, but the

0:46.9

smallest increase in a decade. Also, more Americans will opt to drive shorter distances,

0:52.5

according to Gas Buddy.

0:56.8

Airline travelers this weekend are said to be less affected.

1:02.2

AAA projects 3.5 million people will take domestic flights, with average airfare about 6% cheaper because most trips were booked before the Iran War.

1:08.2

I'm Novosafo for Marketplace.

1:10.8

California Governor Gavin Newsom got into it yesterday with Chevron over gas prices.

1:15.8

His office urged people to ditch Chevron in favor of cheaper, unbranded alternatives.

1:21.1

Chevron had said gas was so expensive because of the state's climate policies.

1:25.7

All of this raises a question, which is, how are you feeling financially?

...

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