AAA: U.S. Drivers' "Breaking Point" on Gasoline Nears $3.50 per Gallon

The price per gallon at which consumers consider gas "too high" has gotten higher, according to a new gas price index from AAA.

AAA found that 50% of U.S. adults consider $3.44 a gallon to be "too high" when it comes to gas pricing, according to information released yesterday. AAA President and CEO Robert Darbelnet said this may be a sign that consumer sentiments are changing. "It was not long ago," he was quoted as saying, "that motorists were shocked to pay more than $3 per gallon for gasoline, but now that is standard at stations nationwide."

The current average price is $3.52 per gallon, according to AAA, with prices varying within a $1 range across the country.

According to the study's findings, 46% of the 1,011 surveyed adults thought gas was too high at $3.00 per gallon. Additionally, 61% believed gas was too high at $3.50 a gallon, and 90% agreed that $4.00 was too high.

The national average has not gone above $4.00 since 2008, though it has remained above $3.00 per gallon for 28 consecutive months, and above $3.44 per gallon for 82 days.

The survey also suggested that more Americans are countering higher gas prices by changing their driving habits. Eighty-six percent of survey participants said they are driving less, while 71% are cutting back on restaurants and shopping, and 54% use a car with greater fuel efficiency. Meanwhile, 53% said they were delaying major purchases to offset gas prices while 39% said they were working closer to home, and 33% said they were carpooling. Fifteen percent said they were using public transportation more regularly.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2383887, ~/Articles/ArticleHandler.aspx, 9/17/2014 8:01:19 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement