Pump price drivers
A Yahoo/Maru Public Opinion survey released today finds that two-thirds (66%) of American vehicle owners/households have made, or will make, significant changes to their driving/vehicle use habits if the price at the gas pumps escalates from the national average of $4.12 to $4.35 per gallon. In contrast, the remaining group (34%) will not likely change their driving/vehicle use habits until the price is approximately $5.00 per gallon.
For example, with the national average of $4.12 per gallon of gas in the past month, four-in-ten (42%) American drivers admit to already cutting back on vehicle use for just necessities (like grocery shopping/doctor visits), and this would rise to two-thirds (62%) doing so if the price hits $4.35 per gallon.
In the same manner, while one-in-ten (9%) of American drivers have already canceled planned summer holiday travels by car with the price at the same national average of $4.12 per gallon, this could escalate to three-in-ten (29%) if the price rises to $4.35 per gallon.