Gasoline consumption across the U.S. has steadily declined during the last decade. Analysts have chalked up the drop in gas usage over the last ten years to the rise in more efficient technologies, better public transportation, the stalled economy and steadily increasing gas prices.
While US based oil companies are raking in the profits, their Japanese counterparts are not as successful. Asia Times reports the oil industry suffered the first decline in gasoline sales in 21 years for fiscal year 2005, due to increasing gas prices and more fuel-efficient cars. According to the article, gasoline sales have fallen just twice since 1950, in 1974 during the first oil crisis, and in 1984 due to record heat which curtailed leisure travel. While a 1.5% decrease in gasoline sales mig