It looks like $4.00 a gallon really is the point where America’s drivers really start to change their behavior. CNN reports:
At a time when gas prices are at an all-time high, Americans have curtailed their driving at a historic rate.
The Department of Transportation said figures from March show the steepest decrease in driving ever recorded.
Compared with March a year earlier, Americans drove an estimated 4.3 percent less — that’s 11 billion fewer miles, the DOT’s Federal Highway Administration said Monday, calling it “the sharpest yearly drop for any month in FHWA history.” Records have been kept since 1942.
According to AAA, for the first time since 2002, Americans said they were planning to drive less over the Memorial Day weekend than they did the year before.
UPDATE: The downward trend in driving rates is likely to continue. “More than 70 percent of Americans say they expect gasoline prices to top $5 a gallon by the end of the summer,” the Washington Times reports.
Tags: cars, gas prices
