War Profiteering Gas Prices Rattle Drivers
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Washington DC May 9, 2008; Record high gas prices are prompting Americans to drive less for the first time in nearly three decades, squeezing family budgets and causing major shifts in driving habits, a USA TODAY/Gallup Poll show.
As prices near — or in some places top — $4 a gallon, most Americans say they are cutting back on other household spending, seriously considering buying more fuel-efficient cars and consolidating their daily errands to save fuel. And just yesterday, Iran's oil minister predicted oil prices will soon rise from today's record breaking $125 per barrel to $200 per barrel.
Americans believe him: eight in 10 say they doubt today's high prices are temporary. It's the first time such a large majority sees pricey gas as a long-term problem.
The pinch is reshaping the way Americans use their cars: February was the fourth consecutive month in which miles driven in the USA fell, and many drivers are trading in their gas-guzzlers for micro-vehicles.
In the 12 months ending in February, the latest month for which data are available, miles driven fell 0.4% from a year earlier. The last drop of that scale was in 1980-81.
