Consumer Sentiment Hits Record Low As High Gas Prices Drag On Americans' Outlooks | N18G

Added: 2026-05-26

[00:00:00]In case you haven't noticed, this morning gas prices offering no relief to the millions of Americans who are traveling for the Memorial Day holiday.

[00:00:07]The national average price of gas right now, $4.50 per gallon, making this the most expensive Memorial Day for travelers in 4 years. And AAA projects a record 45 million Americans still are traveling at least 50 miles from home for the holiday. I want to bring in CNN's Ryan Young, who's with me now. So, Ryan, Atlanta set the scene, millions of people come through as they return home today. What can they expect? I I see you in the car there, I think.

[00:00:35]Yeah.

[00:00:36]Yeah, they will. You know, here's the thing, Omar, 39 million Americans will hit the road in the course dads and drivers all across this country will be thinking about the idea of having to hit the road and spend the money for gas.

[00:00:48]Just take it this way. This car alone takes about $110 to fill up. And that's what Americans will be having to decide all across this country as they do their budget. Look, a family of four traveling, what we've noticed here is that across the country they're going to have to be making budget decisions. We actually talked to a business owner just in the last hour or so who was telling us he thought this weekend in particular was going to be strong for business, but that's not been the case. Uh a lot of people have been traveling different locations. Orlando is one of the top destinations for people in terms of travel. We've seen that with rental cars. So, that's just part of the process. Here at this gas station, uh unleaded is about $4 a gallon. So, you understand the pricing. And people come here to QuickTrip across the country, and they want to make sure that when they come in, what's going on, guys? How you doing? Uh they want to make sure that when they're here, they're shopping and thinking about what they're going to spend. So, the average family is going to spend over two to $400 a day when it comes to travel across this country. You talk about the air flights, we know 2 million people are going to pass through Atlanta Hartsfield-Jackson International Airport just this weekend alone. When you add the fact that so many people are on the road, that's higher than last year, and that's one of the things that was a surprise and even with gas prices being high, there's a pent-up demand for people to be able to travel this summer.

[00:02:03]In fact, we talked to one traveler just a short time ago about how expensive this trip has been.

[00:02:11]Uh we didn't particularly budget cuz I'm driving with these friends, so we're all kind of splitting the gas prices between the three of each other. So, uh we I guess we knew we were going to have to drive, so we kind of had to, you know, spend money. So, yeah. Has there been any sticker shock when it comes to paying for things on the road, when it comes to food or anything like that, or Uh not a whole lot that I noticed, but uh yeah.

[00:02:35]Uh we Yeah, $2 to $400 a day is what people are dealing with. You know, when you get on a trip, you have to make sure the kids are hydrated. All the parents are thinking about, "Hey, what are they going to buy? What are they going to do?" That's part of the process here when it comes to dealing with this. So, you have to have all your snacks. Guys, give Omar his snack. Wanted to make sure since you're our co-pilot today, Omar, you also have a treat here. But, this is something to think about. This is impacting businesses tremendously when you think about how people are traveling over the next 24 hours or so, the weather will play a role as well cuz we've had a lot of rain in the Atlanta area and throughout the Southeast.

[00:03:08]That's something that people have to watch out for as they're on the roads to make sure they travel safely, but at the same time Omar, people are out there, they're spending money, and they're driving to a lot of these locations. So, hopefully you'll enjoy that treat. Ryan Young, man, uh taking us on this journey with you this morning. Really appreciate it. Also, appreciate the snack. Yeah, we're both up early. Uh one thing I noticed, uh I'm going to let you go. Go lock the car. Go I didn't see someone lock the car. So, go do your thing. A good to see you though. Thanks for having us this >> locking. It's It locked when I walked away. I should have known you have everything covered. I should have known you had everything covered. Ryan Young, good to see you. Absolutely.