High Gas Prices, Feeling the Pulse of Drivers

May 23, 2004 – Vol.9 No.9

HIGHER GAS PRICES - FEELING THE PULSE OF DRIVERS .

Who are drivers blaming for higher prices at the pump? What effect are prices having on their spending habits?

The following is a sample of results from a Harris Interactive poll taken between May 10 and May 17, 2004 of 2141 U.S. adults who own or lease a vehicle.

--- Most people blame OPEC (37 percent) or foreign oil producers (35 percent) for high gas prices. About a quarter (23 percent) blame the U.S. government. (Government fault - read blame Bush - may increase if high prices drag on.)

--- Drivers are spending, on average $90 more on gasoline per month than a year ago.(Ouch!)

--- 40 percent have cut back on other expenditures - eating out, movies, shopping in general - to pay more for gasoline. Though most, 60 percent, said they wouldn’t have to make cuts. (One person interviewed for a local newspaper article mentioned the possibility of second job to pay for gas. Madness!)

--- 81 percent believe more attention will be focused on more fuel efficient cars, such as hybrids in the future. 71 percent felt automakers weren’t moving quickly enough on fuel efficiency. (If this is just a spike in prices it will be business as usual at the SUV makers. It will take a long term trend in high prices for long term attention to fuel efficiency.)

--- 60 percent who plan to buy a new vehicle in the next two years said they’d buy a more efficient vehicle at that time. (To be cynical let me re-word the comment above. If this is just a spike in prices it will be business as usual for SUV BUYERS. It will take a long term trend in high prices for long term attention to fuel efficiency.)

The complete poll has specific results on the types of expenditures people are planning to cut back on. Visit Harris Interactive at http://www.harrisinteractive.com/