Driving Less Today - Blame Oil Prices
Monday, January 28th, 2008Escalating prices - specifically rising gas prices - have taken their toll on Americans, causing them to drive less. Most of my friends and me included feel that the recent price increases in gasoline have caused financial hardship.
Rising fuel prices have caused most Americans to cut back on their driving. Of the over 1,000 American adults surveyed in the poll conducted March 14-16, 64% said they have made some changes to their driving behavior as a result of higher gas prices, with 19% saying they have cut back on driving enough to have a major effect on their daily lives. And 5% say they have stopped driving altogether.
Economists are asking what is the breaking point for when gas prices take their toll on the consumer? For me, we have reached the point already.
