24 Aug '11, 7pm

Gas Is Cheaper, but We're Still Driving Less

Driving less? Perhaps stubbornly high gasoline prices are getting you down. All the bad economic news may be holding you back from shopping or eating out as much. Or maybe you don’t have a job to drive to in the morning. Obviously, you are not alone. MasterCard SpendingPulse put out its weekly gasoline report Tuesday, and demand for gasoline is going south fast. For the week ending Aug. 19, demand for gasoline at gas stations across the country was down by 4.2 percent compared to the same week a year ago. In week-to-week terms, it’s down 0.8 percent, despite the fact that gasoline prices have been edging down lately. In fact, the average price for a gallon of regular was down 4 cents from the week before, but still nearly a third higher than a year ago. The four-week moving average in gasoline consumption is down 3.8 percent from last year, so the one-week drop is not an a...

Full article: http://green.blogs.nytimes.com/2011/08/24/gas-is-cheaper-...

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