NEW YORK (CNNMoney.com) - Many Americans will watch fireworks at home instead of hitting the road this July 4, according to a new poll released Wednesday, as record gasoline prices force people to make major changes in their daily lives.
According to a CNN/Opinion Research poll, 31% of Americans have canceled or shortened their planned holiday weekend vacation because of the recent increase in the price of gas.
"When consumers talk about their thinning wallets, high fuel expenses is the reason they would point to first," said Wachovia economist Tim Quinlan.
The average price of a gallon of gas rose to an all-time high above $4.09 a gallon Wednesday, according to a survey from motorist group AAA. Gas prices are now about 3% higher than last month and 38.5% higher than year-ago levels.