Consumers React to Fuel Prices
October 28, 2005
Filed under Trailer News
The 2005 GFK NOP Green Gauge Study identifies the price thresholds at
which Americans indicated that they will alter their lifestyles to save
on gas. Those lifestyle changes include carpooling; using public
transportation; walking, biking or using other forms of transportation;
reducing overall driving; using their most fuel-efficient vehicle; and
buying a more fuel-efficient vehicle.
When fuel averages hit $2.50 per gallon, 26 percent of Americans
surveyed say they kept their most gas-guzzling vehicle in the garage as
much as possible, and an additional 22 percent admit they tried to
reduce the amount of time they spend on the road.
Four dollars a gallon marks the threshold at which approximately
half of consumers say they will adopt new strategies to save on fuel. At
that price point, roughly half of the respondents state they would
decrease their fuel consumption by carpooling, walking, biking or using
other forms of transportation; limiting total drive time; using their
most gas-efficient vehicle; or immediately purchasing a more fuel-stingy
Prices would need to reach five dollars per gallon before a
majority of consumers say they would resort to public transportation.