Autoblog

AAA expects more Memorial Day weekend drivers than last year

Chris Shunk — Sat, 26 May 2012 14:02:00 EST

Filed under: Etc.

Memorial Day weekend is always a good opportunity to hit the road, and despite the sour state of the economy, AAA feels this weekend will see more travelers in their cars than last year.

Based on responses gleaned from a member survey, AAA estimates that 34.8 million Americans will travel 50 miles or more this Memorial Day weekend, an increase of 500,000 travelers over 2011. The survey also predicts that 88 percent of this weekend's travelers will skip planes and trains in favor of cars. 53 percent of those surveyed say that elevated fuel prices won't affect their travel plans.

While the number of travelers will likely go up this weekend, the AAA survey finds that distances traveled should decrease significantly. Respondents say they will travel an average of 642 miles over the holiday weekend, or 150 fewer miles than last year. This is where fuel prices manifest themselves; while high gas prices may not keep people from driving this weekend, they will keep them from driving as far as they might have if costs were lower. You can read over the full AAA press release below.

Continue reading AAA expects more Memorial Day weekend drivers than last year

AAA expects more Memorial Day weekend drivers than last year originally appeared on Autoblog on Sat, 26 May 2012 14:02:00 EST. Please see our terms for use of feeds.

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Analyst suggests gas prices may have peaked at $3.92/gal

Chris Tutor — Wed, 11 Apr 2012 11:30:00 EST

Filed under: Etc., Earnings/Financials

High gas prices burning through your checking account faster than a Bugatti Veyron through premium? At least one analyst says the pressure might drop soon. Patrick DeHaan, senior analyst for gasbuddy.com thinks fuel prices have peaked for the year, with the national average sitting at $3.92 for the last week. According to USA Today, DeHaan expects average national gas price to fall to $3.70 before May.

If you're the type to send Thank You cards, keep in mind all those Toyota Prius owners who have sacrificed driving pleasure for greater fuel economy, and the leadership in Iran who have kept things kind of quiet over there for a few days. Depending on your political bent, you can also thank either the Democrats and/or Republicans for fostering a slow economy. All those elements contributed to lower oil prices and, in turn, lower gas prices. In contrast, the Federal Energy Administration is still predicting a $4.01/gal peak next month.

Either way, don't rush out and buy that gas-guzzling supercar just yet. Any number of factors could send fuel prices flaring. Meanwhile, enjoy your cheap, $3.92/gal regular while it lasts.

Analyst suggests gas prices may have peaked at $3.92/gal originally appeared on Autoblog on Wed, 11 Apr 2012 11:30:00 EST. Please see our terms for use of feeds.

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What $1 rise in price of gas can do to your SUV's value

Zach Bowman — Wed, 20 Jul 2011 14:00:00 EST

Filed under: Car Buying, Etc.

According to a new study by Automotive Lease Guide, fuel prices play a huge role in how much your vehicle depreciates over time.No surprise there, but the specifics of the study are a little jarring all the same. USA Today reports that the study found that when gas costs increase by a single dollar, less efficient, large SUVs see their value stumble by a whopping 13 percent. On the other hand, that same rise in fuel prices will cause the value of more fuel efficient models to increase by 10 percent. Of course, as the report notes, those figures only hold true for vehicles on the polar ends of the fuel economy scale.

For full-size sedans and compact SUVs, fuel prices have effectively no impact on resale value whatsoever. ALG says it expects fuel prices to remain close to $3.65 per gallon throughout the remainder of this year. By 2016, however, the price may increase to $4.06 by 2016, just before more stringent fuel economy standards kick in for the first time. Head over to USA Today for a full look at how ALG says fuel prices impact vehicle resale values.

What $1 rise in price of gas can do to your SUV's value originally appeared on Autoblog on Wed, 20 Jul 2011 14:00:00 EST. Please see our terms for use of feeds.

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Are gas prices changing home buying habits?

Jeff Glucker — Wed, 25 May 2011 18:41:00 EST

Filed under: Etc., Earnings/Financials

Rising gas prices have an affect over many aspects of our lives. Besides increasing the cost of operating automobiles, more expensive fuel leads to an increase in the cost of shipped goods, food and airline tickets. Can gas prices also create changing attitudes amongst home shoppers?

Coldwell Bankers Real Estate recently conducted a survey of real estate professionals, and it found that 75 percent reported clients reevaluating where they search for homes. Home shoppers are looking to reduce commuting distance in order to reduce fuel consumption. The survey found that 77 percent of real estate professionals saw an increase in the number of folks looking for home offices and 68 percent of that pool believe the surge is attributable to rising fuel costs.

The folks at Nielsen have a different take on the matter, however, and believe U.S. consumers have adjusted to a new "spending reality." Folks are adjusting their spending habits to conserve where possible, but Nielsen doesn't believe it's on the level of the 2008 economic freakout.

So now we're going to turn to you, dear Autoblog reader. If you're in the market for a house, have rising gas prices shaped your search in any way? Sound off in Comments.

Are gas prices changing home buying habits? originally appeared on Autoblog on Wed, 25 May 2011 18:41:00 EST. Please see our terms for use of feeds.

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Price of oil plummets below $100, gas may fall to $3.50/gallon by June

Chris Shunk — Fri, 06 May 2011 09:59:00 EST

Filed under: Etc.

The United States economy has been on the up-swing over the past year and a half, but recent data shows that economic growth is slowing and unemployment is once again creeping upward. That certainly isn't good news, but but those factors are starting to take their toll on the fuel prices... for the better.

The price of a barrel of oil dropped by $9.44 on Thursday alone, lowering the price below $100 per barrel for the first time in two months. According to the Associated Press, the per-barrel price reportedly dropped further to $97/barrel early Friday, and the trend may not reverse itself any time soon.

Some analysts feel that we may see some relief at the fuel pump, with prices dropping to an average of $3.75 per gallon by Memorial Day, and $3.50 by mid-summer. Currently, the price of a gallon of petrol rests at about $4.00 per gallon nation-wide, though many areas are paying much more.

That's great news for commuters, but the New York Times Green blog points out that the precipitous price drop was less of a trend and more of a market correction. Demand for oil in India and China, the two countries with the highest population by far, continues to grow at a substantial rate. That means any substantial drop in demand over the long term is unlikely. At any rate, the price of a gallon of gas should drop a bit in the near future, and at this point, we'll take what we can get.

Price of oil plummets below $100, gas may fall to $3.50/gallon by June originally appeared on Autoblog on Fri, 06 May 2011 09:59:00 EST. Please see our terms for use of feeds.

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AP looks into what factors determine gas prices

Zach Bowman — Fri, 11 Mar 2011 16:00:00 EST

Filed under: Etc., Earnings/Financials

With summer just a few precious months away, most Americans are already bracing for some of the steepest fuel prices in years. According to the Associated Press, unrest in places like Libya has seen the average price tag on a gallon of gasoline rocket skyward by 38 cents per gallon, or around 15 percent, since February 15. In fact, the price per a barrel of crude oil has been on a steady trek upward, and in kind, drivers have seen the numbers tick north at their local pumps. So why is it that when the price per barrel drops, as it did earlier this week, gas prices stay high?

The answer, it turns out, is due to a mix of factors. According to the AP, most gas stations set their prices not according to how much it costs them to replace the fuel, but in correlation with their closest competitors in the area. If one station ups their price per gallon, the rest will follow suit and vice-versa. That's because station owners typically only make two or three cents on every gallon of gasoline sold. Instead, they make their money off of the snacks and drinks inside.

Since stations may buy their fuel in long-term contracts to lock in a price for a set period of time, lowering the price per gallon too quickly could cause them to actually lose money on the fuel sold. Head over to Yahoo News for a full breakdown of the factors influencing fuel prices.

[Source: Yahoo News | Image: Paul Sakuma/AP]

AP looks into what factors determine gas prices originally appeared on Autoblog on Fri, 11 Mar 2011 16:00:00 EST. Please see our terms for use of feeds.

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Former Shell boss predicts $5/gal gas in 2012

Zach Bowman — Tue, 28 Dec 2010 13:01:00 EST

Filed under: Etc.

With fuel prices in a temporarily lofty spot thanks to the holidays, it's hard to think of the price of a gallon of gas as a bargain, but according to the former president of Shell Oil, that's exactly what it is compared to what we'll see just one short year from now. While speaking with Platt's Energy Week Television, John Hofmeister said that he fully expects gas prices to be above $5.00 per gallon by the end of 2012. That stance puts Hofmeister firmly in the worst-case scenario club, though other analysts are barely any jollier in their predictions.

Tom Kloza, who serves as the chief oil analyst with Oil Price Information Service, believes that Hofmeister's predictions will come true, just not in the time-frame that the former Shell head honcho has predicted. Instead, Kloza says that he expects $5.00/gallon fuel to show up within the next decade. If so, we can probably expect to see a repeat of the financial shock that occurred when fuel prices shot up in mid-2008. The predictions are enough to make us a little queasy, so you have to really feel for our friends in Blighty - the UK recently saw gas prices spike to $7.30 a gallon. What will their prices be in 2012?

[Source: CNN Money | Image: Kari_Marie via cc 2.0]

Former Shell boss predicts $5/gal gas in 2012 originally appeared on Autoblog on Tue, 28 Dec 2010 13:01:00 EST. Please see our terms for use of feeds.

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Report: India goes on general strike to combat high fuel prices

Zach Bowman — Fri, 09 Jul 2010 08:26:00 EST

Filed under: Etc., Government/Legal, India

Governments the world over are doing their best to stave off budget shortfalls, and India has taken to upping the cost of fuel to cover its overhead. Turns out the common man isn't much for those kinds of shenanigans. According to the BBC News, after fuel prices shot skyward, opposition to the ruling party initiated a strike that stuttered normal life in the country for a few days. Schools closed down, businesses shuttered their doors and transportation ground to a near halt with some flights and trains canceled. Even the nation's biggest trucking union sided with the strike, further complicating matters.

There's even some word that Toyota had to stop work at one of its facilities near Bangalore due to the disruptions. There's no news yet as to whether or not the prices have come back down, but Toyota has managed to get things moving again in its factory.

There is some indication that the public at large is more concerned about the higher price of cooking kerosene rather than the slight nudge in the cost of gasoline. Either way, we're thinking the powers that be will probably think twice before tweaking fuel prices again.

[Source: BBC News via The Truth About Cars | Image: Manish Swarup/The Associated Press]

Report: India goes on general strike to combat high fuel prices originally appeared on Autoblog on Fri, 09 Jul 2010 08:26:00 EST. Please see our terms for use of feeds.

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New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO]

Chris Shunk — Tue, 30 Jun 2009 11:28:00 EST

Filed under: Marketing/Advertising, Videos, Hyundai

Hyundai Assurance Gas Lock ads - Click above to watch the videos after the jump

Hyundai is piling on additional incentives to boost its Assurance program as the industry heads into the dog days of summer. The newest promotion, Gas Lock, fixes the price of regular unleaded at $1.49 per gallon for the next year. The program runs July 1 through August 31, and eligible vehicles include the Accent, Sonata, Tiburon, Elantra, Elantra Touring, Entourage, Azera, Santa Fe, Tucson and Veracruz. Customers choosing to utilize Gas Lock will forgo $1,000 in available rebates, making the incentive a gamble that gas prices will remain high.

Hyundai Assurance struck at cord with the American public when it offered payment protection in the event of job loss. Now Hyundai is looking to give consumers increased peace of mind over of the volatility of gas prices, which have swung from under $2 a gallon a few months ago to nearly $3 at the beginning of summer.

John Krafcik, CEO and president of Hyundai Motor America, says the company's research shows that "nearly 40% of potential new car buyers are staying out of the market specifically due to uncertainty around future gas prices."

You may remember that last year, Chrysler tried a similar promotion, offering the opportunity to lock in gas at $2.99 per gallon when a gallon of petrol was at an all-time high of about $4.50. The move didn't appear to be very successful for the Pentastar, as most opted to instead take the upfront cash on the hood. Hit the jump to pour over the particulars of Hyundai's Gas Lock promotion, watch the two commercials, and let us know in the comments section if you feel customers would be better off taking the $1,000 or one year of $1.49 gasoline.

[Source: Hyundai | Image: Justin Sullivan/Getty]

Continue reading New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO]

New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO] originally appeared on Autoblog on Tue, 30 Jun 2009 11:28:00 EST. Please see our terms for use of feeds.

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Interactive map reveals our global oil useage by barrel, money

Jonathon Ramsey — Sat, 10 Jan 2009 10:02:00 EST

Filed under: Etc.

The Rocky Mountain Institute has created a nifty interactive map that shows you where the U.S. gets its oil from, along with how much - and who - the U.S. pays for its oil. Based on the thickness of the lines, you can see just how much black stuff is coming from where. The map goes as far back as 1973, the year of the first oil crisis, and is accompanied by a graph charting usage and dollars since then. As you'll notice in the pic above, we give a whole lot of money to Saudi Arabia, as well as our Canuck friends up north.

Additionally, RMI has included information on oil production in the Arctic National Wildlife Refuge and the Outer Continental Shelf (in the Gulf) There are some interesting factoids to be found: ANWR drilling wouldn't start until 7-12 years after it's opened up, and peak production - up to 1.9 million barrels-per-day - isn't expected to commence until 20-30 years after that. Thus, drilling in the OCS probably won''t have any impact on fuel prices until 2030. Follow the link to check it out for yourself. Hat tip to reader Rick!

[Source: Technology Review]

Interactive map reveals our global oil useage by barrel, money originally appeared on Autoblog on Sat, 10 Jan 2009 10:02:00 EST. Please see our terms for use of feeds.

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The NYT chimes in: time for a gas tax

Jonathon Ramsey — Sun, 28 Dec 2008 13:04:00 EST

Filed under: Government/Legal, Lifestyle

Can you hear that? Those are the war drums, and more and more of them are beating the same tune: bring on the gas tax. An editorial in The Gray Lady is the latest and arguably the weightiest to join the shock troops advocating for higher gas prices. The writer proposes a fluctuating consumption tax that would keep gas at least $4 per gallon in 2008 dollars, while an economist suggests a sliding tax on the price of a barrel of oil to achieve the same effect.

The NYT admits "a bitter recession is not the most opportune time to ratchet up the price of energy." But it balances that against the coming Obama administration's aims, the government's enviro-friendly suggestions to the U.S. auto industry, and Americans' claims to want to get off of foreign oil.

Although not mentioned specifically in the Times piece, some recommend a gas tax for a reason that has nothing to do with environmental stewardship: state governments need money. States are making enormous budget cuts, trying to sell and lease their lotteries, state parks, roads, bridges, and even their airports, and lining up for federal aid totaling hundreds of billions of dollars, and still saying they won't have enough money. The answer to "Will there be a gas tax?" could be, as Jesse Jackson once said, "The question is moot!" The question is not whether there will be a gas tax, but whether you will pay your additional taxes at the pump, at the toll booth, in your paycheck, etc...

[Source: New York Times]

The NYT chimes in: time for a gas tax originally appeared on Autoblog on Sun, 28 Dec 2008 13:04:00 EST. Please see our terms for use of feeds.

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Cheap Gas = Trucks to outsell cars again this month

Dan Roth — Wed, 24 Dec 2008 09:58:00 EST

Filed under: Car Buying, SUV, Truck, Green, Earnings/Financials

It's the same old story, people say one thing, yet do another. The price of fuel has fallen to the point that it's no longer financially ruinous to fill the tank on a full-size pickup, so looks like truck sales will eclipse cars in December. Despite the public's rhetoric about smaller and more fuel efficient vehicles, the populous has seemingly gone back for another feed at the truck trough. Winter tends to remind people of the things that SUVs and trucks are good for, like plowing and effortless going in inclement conditions while also carrying a passel of rugrats and their associated detritus. Not only are truck sales expected to be up, Hybrids will be the flip side of the trend, underperforming compared to what everyone might have thought a mere four months ago. It might end well for the automakers, with higher profit trucks bouncing back, though the investment in green and hybrid technology will go wasted if the marketplace ignores it, a real danger with fuel prices easing... for the time being. Hat tip to reader "Throwback"

[Source: CNN, Photo: yammeringmagpie]

Cheap Gas = Trucks to outsell cars again this month originally appeared on Autoblog on Wed, 24 Dec 2008 09:58:00 EST. Please see our terms for use of feeds.

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Chrysler's $2.99 gas card promo pretty worthless, for now

Alex Nunez — Mon, 24 Nov 2008 13:30:00 EST

Filed under: Car Buying, Etc., Chrysler

Oh well. Those Chrysler "Let's Refuel America" gas cards undoubtedly sounded good to car buyers over the summer when gas was well over four bucks and it seemed like there was no limit to how high the price could go. Offered in lieu of rebates, the gas cards essentially locked drivers into the then-cheap pump price of $2.99/gallon. Now, several months (and countless hysterical media reports) later, the economy is in the tank and so, as it happens, is the price of gas. In what feels like a time warp, $2-per-gallon gas is suddenly not uncommon. That's great news for drivers in general, but less so for drivers holding the $2.99 gas cards, which don't seem like such a hot deal anymore. This is the gamble you take when you agree to a fixed price on a commodity subject to market fluctuations. It's the same issue some people now face with heating oil: over the summer, customers who locked-in a contracted price in fear of astronomical costs this winter are now set to pay through the nose, while others who gambled and decided to just pay market price are at an advantage. The good news for the Chrysler gas card holders: the price is good for a couple more years, so if gas shoots up again, they're back in the game. Thanks for the tip, Soh Won Cha!

[Sources: BNet, KPTV]

Chrysler's $2.99 gas card promo pretty worthless, for now originally appeared on Autoblog on Mon, 24 Nov 2008 13:30:00 EST. Please see our terms for use of feeds.

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Man claims prayer brought pump prices down

Dan Roth — Mon, 18 Aug 2008 18:58:00 EST

Filed under: Trends, Etc., Lifestyle

In the book of Genesis, man was given dominion over all the plants and animals, so we're guessing that dead, liquified ones count, too. Since Rocky Twyman started his Pray At The Pump effort in April, average fuel prices have certainly fallen. Twyman believes that his groups' prayers have effected the change, and that no other factors like shifting consumer behavior, international conflict, or speculators has anything to do with it. Right.

The Pray At The Pump group is not just asking for divine fuel price intervention without also encouraging acts of sacrifice on behalf of man - Twyman's ministry strongly encourages car pooling and better organized trips to maximize conservation on a day to day basis. After all, committing the mortal sin of gluttony while asking for the Lord to make it easier on us all would ring kind of hollow. We suppose even the non-faithful can get behind Twyman's effort in that it's at least as effective as the various fuel-saving trinkum that internet scheisters are imploring us to buy (run your car on water? hydrogen "batteries"?), and it costs nothing, to boot. Combined with a regimen of proven fuel-saving behaviors, extra prayers certainly can't hurt in keeping the flow of car-sustaining manna trickling along at an affordable price.

[Source: BBC, AutoblogGreen, Photo: daylife.com]

Man claims prayer brought pump prices down originally appeared on Autoblog on Mon, 18 Aug 2008 18:58:00 EST. Please see our terms for use of feeds.

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10 reasons why auto sales are dropping (besides the economy and fuel prices)

Dan Roth — Thu, 14 Aug 2008 19:31:00 EST

Filed under: Car Buying, Etc., Opinion/Editorial

Think of it as the Carsumer Price Index; new car sales are under pressure from other factors besides fuel prices and economic slowdowns, much like the Consumer Price Index strips out the price of fuel and food and then makes a proclamation about the economy. At least that's the theory that Pinny Cohen posits. Who's Pinny Cohen? As far as we know, he's an average joe with an internet rostrum and a budding web entrepreneurship who makes some salient points. He's also an Autoblog reader and he's got something to say, so we thought we'd share.

If it's not $4/gallon gasoline or economic stagnation that's putting the brakes on car sales, what else could it be? Cohen posits that the better construction of cars these days, a glut of leases that have led to a tsunami of used cars, and online shopping and telecommuting keeping people home are all contributing factors, says Pinny. Something's got to give for consumers, and new car sales seem to be the weakest link. Every automaker will eventually accept these facts, but the question is whether some will have to close up shop in order to realize that it's a brand new day of decreased production. Check the link to read Cohen's thoughts and let us know if you agree or think of more reasons why besides the crappy economy and high gas prices that new vehicle sales are down.

[Source: PinnyCohen.com, Photo: DealerConnection.com]

10 reasons why auto sales are dropping (besides the economy and fuel prices) originally appeared on Autoblog on Thu, 14 Aug 2008 19:31:00 EST. Please see our terms for use of feeds.

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MyGallons lets you lock in fuel prices

Dan Roth — Fri, 04 Jul 2008 11:02:00 EST

Filed under: Trends, Etc., Lifestyle

UPDATE: The Better Business Bureau apparently has some issues with MyGallons. This post was written several days ago and we were not aware of the dustups at that time.

You can pre-pay for cellphone minutes, here in New England it's popular to lock in your heating oil price for the winter, and now you'll be able to bank gallons of gasoline on a debit card, thanks to MyGallons.com. While you're screwed out of the money if the price of fuel drops, it's not looking like that's going to happen soon. MyGallons uses your zip code to determine what price you'll pay to add gallons to your card, which is accepted just like a normal debit or credit card at most fuel stations. It's a creative way to smooth out the fluctuations in the price of fuel, and it could also be a boon to those wanting to run a tighter budget, or at least know what they'll be spending on fuel for a given time period, as they've pre-bought. Shoot, it could even be a decent gift idea for the person who has everything!

[Source: Reuters]

MyGallons lets you lock in fuel prices originally appeared on Autoblog on Fri, 04 Jul 2008 11:02:00 EST. Please see our terms for use of feeds.

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Cops now charging for gas used to catch you

Chris Shunk — Thu, 19 Jun 2008 15:55:00 EST

Filed under: Etc., Government/Legal

The high cost of fueling up is affecting just about everyone at the pump. But it's also costing us at the grocery store, the airport, and, beginning July 1, it could bump up the cost of your speeding tickets, too. When a north Atlanta suburb spent 60% of its police fuel budget in only five months, it was faced with cutting back on patrols, raising taxes for all, or passing the cost on to speeders. The final decision was a no-brainer for the city of 7,700, and beginning in July, all speeders will be slapped with an additional $12 fuel charge. The added charge will raise ticket revenues up to $26,000 or more, and the costs will only be passed on to those who break traffic laws and not every citizen. The Atlanta city council has unanimously passed a similar proposal to include a $10 - $15 fine for ticketed motorists, and many more cities are sure to follow suit in short order. Yet another reason to get a really good radar detector. Thanks for the tip, Brad!

[Source: AOL Money, Photo by Malingering | CC 2.0]

Cops now charging for gas used to catch you originally appeared on Autoblog on Thu, 19 Jun 2008 15:55:00 EST. Please see our terms for use of feeds.

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How gas prices work

Randall Halcomb — Sun, 24 Sep 2006 10:08:00 EST

Filed under: Etc., Government/Legal

We're certain that we're not the only ones that shake our heads in disgust when we roll by a gas station (and bow our heads in shame when we actually have to fill up). With the price of gas starting to come down, we certainly all are a little puzzled about what influences fuel prices. Howstuffworks.com comes to the rescue with a overview about what factors control the price of gasoline and the price of oil. While this is far from an exhaustive analysis at the elements that influence energy prices, the article does provide more in-depth analysis about the hot button topics in the economics of fuel.

The only explanation that we did not see is how oil companies are making record profits with oil AND its derivative product, gasoline, at such high prices. We want to see a step by step look at each stage in the process from well to wheels, and where each side takes its cut. Otherwise, the howstuffworks.com article does give more time to the subject than we typically see in other media outlets. So get going and find out what goes into making a $3.00 gallon of gas.

How gas prices work originally appeared on Autoblog on Sun, 24 Sep 2006 10:08:00 EST. Please see our terms for use of feeds.

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Ohio has nation's cheapest gas

Damon Lavrinc — Sat, 16 Sep 2006 14:55:00 EST

Filed under: Etc.

According to AAA, our friends in the Buckeye State are benefiting from the end of the summer driving season by registering the lowest gas prices in the nation. Ohio residents are enjoying a 30-cent discount on fuel, compared to the national average, partly due to seasonal demand and increased competition between the purveyors of the go-juice.

The average cost of tank of unleaded in Ohio is $2.29 a gallon, which in comparison to this writer's residence in the Golden State, is a full 58 cents less than the fill-up station down the road. Fine, we'll see your cheap gas and raise you our ability to go skiing in our shorts.

[Source: NewsNet5.com]

Ohio has nation's cheapest gas originally appeared on Autoblog on Sat, 16 Sep 2006 14:55:00 EST. Please see our terms for use of feeds.

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Survey: U.K. gas prices not high enough for switch to mass transit

Stuart Waterman — Tue, 13 Jun 2006 18:57:00 EST

Filed under: Trends

As U.S. cities take a new look at mass transit services (anticipating increased demand following rising gas prices), transportation planners might want to take a look at a recent survey sponsored by U.K. insurer esure. The survey of U.K. drivers finds that gas prices would have to reach the equivalent of a stratospheric $13.48 per U.S. gallon before they'd consider switching to mass transit.

A remarkable 55 percent of drivers said they'd never switch, no matter how expensive fuel becomes.

There are lots of ways to interpret these results (existing mass transit may be perceived as too inconvenient and/or too expensive, but improved systems might change peoples' thinking, for example) but one thing's for sure - automakers must be breathing a sigh of relief.

[Source: Reuters]

Survey: U.K. gas prices not high enough for switch to mass transit originally appeared on Autoblog on Tue, 13 Jun 2006 18:57:00 EST. Please see our terms for use of feeds.

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