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Half of U.S. adults consider gas prices to be “too high” when it reaches $3.44 per gallon, indicating a potential breaking point on gas prices, according to a new consumer price index developed by AAA.
Roughly two-thirds of Americans (62 percent) offset high gas prices by changing their driving habits or lifestyle.
“It was not long ago that motorists were shocked to pay more than $3 per gallon for gasoline, but now that is standard at stations nationwide,” said Martha Mitchell Meade of the American Automobile Association Mid-Atlantic.
“Today’s average consumer feels a breaking point on high gas prices closer to $3.50 per gallon, and expensive prices have forced many motorists to change their driving habits.”
AAA’s gas-price index tracks consumer attitudes by determining at what price the cost of gasoline becomes too high. The results from the open-ended survey demonstrate how attitudes can be expected to change as prices rise above significant milestones:
• 46 percent believe gas is too high when the price reaches $3 per gallon.
• 61 percent believe gas is too high when the price reaches $3.50 per gallon.
• 90 percent believe gas is too high when the price reaches $4 per gallon.
“It is possible there is a new normal in terms of consumer attitudes now that gas prices have remained above $3 per gallon for more than two years,” Meade said. “Most people have resigned themselves to paying higher gas prices and are cutting back on driving, shopping and dining out to save money.”
Consumers report changing their driving habits or lifestyle in a number of ways to offset recent gas prices, including:
• Driving less – 86 percent.
• Reducing shopping or dining out – 71 percent.
• Driving a more fuel efficient car – 54 percent.
• Delaying major purchases – 53 percent.
• Working closer to home – 39 percent.
• Carpooling – 33 percent.
• Using public transportation more regularly – 15 percent.
• Other – 18 percent.
Consumers ages 18-34 are more likely to offset recent gas prices by working closer to home or using public transportation more regularly than adults ages 35 and older (48 percent vs. 35 percent and 25 percent vs. 10 percent, respectively). These results could suggest a generational shift in terms of attitudes towards driving, but it is too early to say whether these attitudes would continue into the future.
The national average price of gasoline on April 23 was $3.52 per gallon, but prices vary by more than $1 per gallon nationwide. The national average has remained above $3 per gallon for 28 consecutive months.
While the national average has not surpassed $4 since 2008, it is not uncommon for motorists living in the West Coast, Northeast and near the Great Lakes to pay more than $4 per gallon. The April 23 average price in Virginia was $3.40 per gallon.
AAA developed the price index by asking respondents, “At what price do you start to consider the cost of gasoline to be too high? Please tell me the price per gallon to the nearest 10 cents.” AAA combined answers from 974 respondents to determine the potential consumer breaking point for high gas prices.
This report presents the findings of a telephone survey conducted among two national probability samples (landline only and cell phone), consisting of a combined total of 1,011 adults (503 men and 508 women), age 18 and older. The study has a 95 percent margin of error of 3.8 percent.