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$4 Gallon Gasoline: Update

Posted April 21, 2008

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The shape of the future for personal transportation and the consequences of those changes on life in America become clearer as we learn how consumers manage to save on gasoline as its price ratchets up towards $4 a gallon.

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The percent of consumers trying to save on gas by cutting back on driving surges month to month from 59% in February to 63% in March to 71% in April.

Jad Mouawad’s April 16 story in The New York Times reports the price of oil closed at over $114 a barrel, that retail gasoline hit a record $3.39 a gallon nationwide, ranging as high as $4.01 a gallon for regular in Palo Alto California.

The combination of increased consumer desire to save on gasoline and panic selling by new car dealers appears to be accelerating the replacement of cars that get lower gas mileage with cars that get higher gas mileage.

Between March and April, the percent planning to buy a new cars moves up three points from 8% to 11%, despite a five point decline from 86 to 81 in the Index that tracks active shopping for twelve types of major purchases.

To be kept informed about further findings from ongoing research on this topic, contact 8SAGES.com.

ALSO SEE PREVIOUS BACKGROUND ARTICLES

$4 Gallon Gasoline March 27, 2008

SAGE Advice: Selling Newspaper Ad Space in a Shifting Petroleum Paradigm September 29, 2006