May 30, 2006

Car owners are cutting back to compensate for gas prices

Rochester, New York – A recent study shows that 44 per cent of car owners in the U.S. have cut back on products or services in order to compensate for rising gasoline prices. Three out of ten are dining out less or reducing their driving, while one-quarter say they are cutting back on groceries in order to pay for gasoline. The results are from a Harris poll of 2,085 U.S. adults.

Those with lower incomes are more likely to say they are cutting back, but 37 per cent of owners who earn US$75,000 or more say they have cut back on products or spending.

Other poll results showed that 74 per cent say that American car companies are not moving as quickly as they should to build more fuel-efficient automobiles, while 39 per cent think that the profits of the oil and natural gas industry have the greatest influence on rising prices. When asked who can stop prices from rising, 34 per cent said the gas and oil industry can do so, while 29 per cent said the federal government.

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