Just the tip
This is just the beginning. When a commodity doubles or triples in price, people’s use of that commodity declines. This year’s driving season may not be that large of a drain on gasoline inventories on which the analysts always blame higher fuel costs.
CLEVELAND (AP) — High gasoline prices are turning some drivers into riders, say public transit authorities in several states.
It’s a trend that Joe Calabrese, general manager of the Greater Cleveland Regional Transit Authority, expects to continue as long as a gallon of gas remains about $2.
…
However, in an Associated Press-AOL poll conducted last Monday through Wednesday, 58 percent of Americans said they have reduced the amount of driving they do as a result of recent increases in energy prices. The telephone survey of 1,000 adults had a sampling error margin of plus or minus 3 percentage points.
Local venues this summer holiday season may be a little more crowded than usual as more people decide to stay home instead of traveling to the lake.