"The conflict in the Middle East itself might be teetering on a tentative ceasefire, but higher gasoline prices are likely here to stay. The average price for a gallon of regular gasoline on Friday was $4.54, according to AAA, up from around $3 before the war, and the most expensive gas has been since the Ukraine War's early days in mid-2022."
"Americans are responding to higher gasoline prices the only way they realistically can: by changing behavior and trimming budgets. In some cases, they are quietly giving up on the idea that this summer will look anything like the last one, according to a poll released last week by Ipsos, the Washington Post, and ABC News."
"The poll surveyed more than 2,500 American adults at the end of April, asking how many had taken specific actions due to higher gasoline prices. It found 44% of adults say they have cut back on driving, 34% have tweaked their travel or vacation plans, and 42% have cut other household expenses in order to afford their gas."
"Americans, on average, drive more than 13,000 miles a year, and a vast majority rely on their vehicle to get to work, as well as accomplish many other chores. With fewer public transportation alternatives than in other developed nations, many Americans are stuck with either paying more at the pump or figuring out ways to drive less."
Gasoline prices in the U.S. have risen to levels not seen since the early days of the Ukraine War. The average price for a gallon of regular gasoline reached $4.54, up from about $3 before the Middle East conflict. Americans are responding mainly by changing behavior and trimming budgets. A poll of more than 2,500 adults found 44% cut back on driving, 34% tweaked travel or vacation plans, and 42% reduced other household expenses to afford gas. Many Americans drive over 13,000 miles annually and rely on vehicles for commuting and errands. Limited public transportation options leave fewer alternatives, pushing drivers to drive less or find new ways to combine trips and reduce nonessential driving.
Read at Fortune
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