Fact #395: October 24, 2005
Effect of High Gasoline Prices on Consumers
In a recent survey, 44% of respondents indicated that they would drive less in response to high gasoline prices. Thirty-one percent of respondents said that if gasoline prices remain high, they would reduce miles traveled by 26% or more. In addition, 54% of respondents said that if gasoline prices remain high, their next vehicle should have 50% more fuel economy than their current vehicle. The graph below compares the answers of all respondents to respondents who plan to purchase a small car and respondents who plan to purchase an SUV.
|Share of Respondents|
|Respondents who plan to purchase a small car||Respondents who plan to purchase an SUV|
|Would drive less due to high gasoline prices||44%||54%||33%|
|If gasoline prices remain high, would reduce miles traveled by 26% or more||31%||35%||22%|
|If gasoline prices remain high, next vehicle would have 50% or greater fuel economy||54%||65%||53%|
Source: Opinion Research Corporation for National Renewable Energy Laboratory, Study #714388 (N =1049), September 22, 2005.