Many people hit the road for the Independence Day holiday weekend every year, and AAA is projecting almost 43 million Americans will travel between Thursday, June 30 and Monday, July 4 in 2016.

The estimate of 43 million travelers would be an all-time record and five million more people hitting the road compared to the Memorial Day holiday weekend earlier this year.

With 36 million people likely to drive during the Independence Day holiday weekend—a 1.2 percent increase over 2015—the news of the lowest gas prices in 11 years should be welcomed by travelers all over the United States.

While 84 percent of holiday travelers will hit the roads of America, other modes of transportation including cruises, trains and buses are expected to increase two percent to 3.3 million people. Most of the growth comes from the cruise industry, which has seen a 35-percent increase over last year.

For those using an airplane to get to the Independence Day holiday weekend destinations, AAA is reporting the average airfare costs are down nine percent from 2015. Hotel rates for this year’s holiday are also down, but daily car rental rates have climbed six percent.

“Spurred by the lowest gas prices since 2005, more people than ever are planning to travel this Independence Day weekend,” AAA President and CEO Marshall Doney said in a statement. “Whether they're traveling by car, plane, train, or cruise ship, it will be exciting to see so many Americans celebrating our nation's freedom with their friends and family over the long holiday weekend.”

“We are well on our way for 2016 to be a record-breaking year for summertime travel,” Doney continued. “This trend is welcome news for the travel industry and a sign that Americans are taking to our nation's highways and skies like never before.”