Consumers More Likely to Cut Discretionary Spending Than Use the Bus

Last edited: Wednesday, 27th June 2007, 5:33 pm

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In another survey on American eco-awareness, nine out of ten American adults claim they are paying close attention to the rising cost of petrol.

While the survey revealed alternative transportation would not be very popular should petrol prices increase, rising petrol prices may give incentive for car owners to swap gas guzzling vehicles for more fuel efficient cars.

The Discover Survey reported that 50% of car owners are driving vehicles that get less than 20 miles per gallon, but a similar number (47%) said they were somewhat or very likely to buy a more fuel efficient car if petrol prices rose by $1.

Stolbof said:

?Nearly 60% of consumers are paying more than $100 a month for gas. As gas prices rise, our survey shows discretionary spending and even living expenses will most likely be reduced. But a dollar increase in gas prices may have a positive impact on the environment as almost half of the car owners surveyed said they would be somewhat or very likely to buy a more fuel efficient car.?

The average price for unleaded petrol was $3.14 per gallon at the time of the survey, the UK equivilent cost per US gallon is approximately $7.20.

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Consumers More Likely to Cut Discretionary Spending Than Use the Bus

In another survey on American eco-awareness, nine out of ten American adults claim they are paying close attention to the rising cost of petrol.

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