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.
Consumer Views on High Gasoline Prices
Supporting Information
| Share of Respondents | |||
|---|---|---|---|
| All 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% |
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Source: Opinion Research Corporation for National Renewable Energy Laboratory, Study #714388 (N =1049), September 22, 2005. | |||