Gas Prices Crimp 4th of July Travel Plans

Going anywhere for the holiday weekend?  If you're like most Americans, you're probably staying close to home.  According to USA Today, "AAA predicts that skyrocketing gas prices will keep people closer to home. Gas prices hit another record Wednesday when the average cost for a gallon of regular peaked at $4.09, AAA spokesman Troy Green says. 'A year ago, we were looking at $2.95,' he says."

CBS News adds, "For the first time in a decade, the number of Americans traveling for this holiday is expected to decline, by 1.3 percent, according to AAA."  The biggest drop "is among those who'd ordinarily drive, down 12 percent since last July 4th, AAA says."

Even celebrating at home will be more expensive this year.  "Rising costs for bread, cheese and propane will make tomorrow's Fourth of July holiday more expensive than last year, even for those Americans who decide to avoid higher gasoline prices by grilling at home," Bloomberg says.  The gas price crisis is even blamed for the rising cost of food.  "Retailers are passing along higher prices to consumers," which include the increased cost of transporting food, and supply disruptions "as more crops are used to make fuel, the U.S. Department of Agriculture said."

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