- 28 Aug
AAA says to expect higher fuel volumes this Labor Day
According to AAA, there will be a 4.3% increase in Americans driving 50 miles or more from home this Labor Day holiday. That means between Thursday and Monday we can expect to see more travelers than any year since the recession. The number of Americans driving 50 miles or more is expected to reach 29.2 million, up from 28 million last year.
From a fuel price management perspective, when comparing this year’s numbers to last year’s, it’s important to monitor fuel volumes compared to the same days of week last year, not same date, in order to make sure you are getting your share of the increased pie this weekend. Strategies may including sitting with slightly higher margins in order to make the most of the weekend, in the face of increased traffic. Or they may include going for volume to make up for lost opportunities earlier in the year.
The key takeaway is to be prepared with best-in-class fuel pricing software to make quick pricing adjustments as needed, in order to maximize the great opportunity this weekend provides. Oh, and on a personal note, it’s best to have access to this fuel pricing software insight from a mobile device so you can have some fun this weekend, too.