There will be 41 million Americans traveling 50 miles or more away from home during this Fourth of July holiday--eight out of ten of them doing it by car. According to the American Automobile Association, the number of Independence Day weekend travelers is up 2% over this time last year, and up 14% compared to this past Memorial Day weekend. Hotels are seizing the moment and charging top dollars. An AAA Three Diamond guest room is 9% more expensive than it was last year, averaging around $178 per night. And if you want to save some money on your hotel stay, then good news: an AAA Two Diamond hotel room averages only $137 per night. A deal, perhaps, but still, that's up 15% over last summer. But any hotel savings will be spent at the pump. As of Wednesday, drivers were paying on average $3.67 per gallon, the highest they've paid in six years. While driving is a popular way to travel, more than three million Americans will be flying this weekend. Air tickets are 5% cheaper this holiday season than last while the price for rental cars has remained about the same.

More from Video

Economist Perspective: Brexit Endgame in Sight?

Economist Perspective: Brexit Endgame in Sight?

Smaller Cap Stocks Could Make Great Stocking Stuffers Ahead of 2019

Smaller Cap Stocks Could Make Great Stocking Stuffers Ahead of 2019

5 Highly Anticipated Tech IPOs to Watch in 2019

5 Highly Anticipated Tech IPOs to Watch in 2019

Trading Strategies: How to Play the Federal Reserve's Decision Next Week

Trading Strategies: How to Play the Federal Reserve's Decision Next Week

The Brexit Breakdown: What American Investors Need to Know

The Brexit Breakdown: What American Investors Need to Know