Consumers Feeling Pain of Skyrocketing Gas Prices

[EV_Ares]

Survey shows dramatic increase in 'great concern' over gas prices, Middle East imports

Consumers are alarmed by skyrocketing gas prices and increasingly concerned by automakers' delays in providing more fuel-efficient cars, a new survey finds. Gas prices have set daily records recently, with the national average shooting past $3.50 yesterday.

In the survey conducted for the Consumer Fedreation of America (CFA) by Opinion Research Corporation (ORC), the percentage of respondents who express “great concern” about gas prices over the next five years increased dramatically, rising from 46 percent in October 2006 to 73 percent in April 2008.

At the same time, many more people perceive the national security risks of oil dependency, with the percentage of who express “great concern” about U.S dependency on Mid-Eastern oil increasing from 48 percent (October 2006) to 60 percent (April 2008).

“We have had three price spikes since 1973, but the only spike that caused a clear and sustained shift in gasoline consumption occurred after Congress mandated more fuel-efficient vehicles,” said Mark Cooper, CFA Research Director. “Without a strong public policy requiring automakers to continue to increase the fuel economy of their fleets, consumers can do little to moderate their gasoline consumption, even as the price skyrockets.”

Few fuel sippers
The quarterly report on consumption, prices and imports shows that consumers are looking for cars that are much more fuel-efficient than the auto manufacturers have been providing.

Link to entire article: http://www.consumeraffairs.com/news04/2008/04/gas_prices221.html