Gas Prices Impact Consumer Behavior

May 19, 2011

gallup-gas-prices-changes-may-2011.JPGThe slight majority of Americans (53%) say they have responded to today’s steep gas prices by making major changes in their personal lives, while 46% say they have not, according to results of a May 2011 USA Today/Gallup poll. Sizable proportions of adults of all major income levels have made such changes, including 68% of low-income Americans, 54% of middle-income Americans, and 44% of upper-income Americans.

Unemployed, Young Most Affected

Although unemployed Americans do not have to worry about driving to work, they are making changes as a result of gas prices at a rate (58%) almost 20% higher than employed Americans (49%). In addition, young adults age 18-34 have a higher rate of making changes than those age 35-54 (51%) or 55 and older (54%).

Men (54%) and women (53%) have made changes at a virtually identical rate.

Gas Prices Cause 2/3 of Americans Hardship

gallup-gas-prices-finance-may-2011.JPGTwo-thirds (67%) of Americans say recent high gas prices have caused them financial hardship, including 21% who say they have caused them severe hardship. Gallup says this is among the highest levels of reported hardship seen on this measure since 2000, and is similar to the 71% found when average gas prices nationwide topped $4 per gallon in 2008 and the 72% when they first exceeded $3 per gallon in 2005.

Driving Less Top Change

gallup-gas-lifestyle-impact-may-2011.JPGAmong the 53% of Americans who report having made major changes in their lives to deal with gas prices, the most common strategy, mentioned by 32% of them, is simply driving less. This is double the percentage (16%) enacting the next-most-popular change, cutting back on vacation travel.

Another 15% are being more careful in planning errands and other local trips, and 15% have also either purchased a more fuel-efficient vehicle or are looking into it. Smaller segments are doing less “leisure driving,” carpooling, using public transportation, walking more, biking more, and driving more slowly.

Low-income Adults Make More Essential Cuts

Low-income Americans who have made major lifestyle changes due to high gas prices primarily report significant hardships, including driving less and cutting back on household expenses. By contrast, those in middle- and upper-income households are relatively more likely to report driving less for vacations and errands.

In addition, while equal percentages of men and women say they are driving less in response to changes in gas prices, men (20%) are nearly twice as likely as women (11%) to say they have purchased or plan to purchase a more fuel-efficient car. Women, on the other hand, are twice as likely (16% compared to 8%) to say they have cut back on other household expenses.

The responses of adults who have made changes to deal with high gas prices vary by age, with those 55 and older much more likely than younger adults to say they have been more careful about running errands but less likely to say they are using a more fuel-efficient car.

TripAdvisor: More Plan Summer Trips

Eighty-six percent of travelers are planning leisure trips this summer; up almost 4% from 83% who said they traveled last summer, according to data from TripAdvisor. While most Americans appear committed to taking vacations this summer, they are conscious of gas prices as 39% said the rising cost of fuel is affecting their summer travel plans. Eighteen percent of respondents expect to take fewer trips by car, 12% intend to take shorter driving trips and five percent are not planning to travel at all this summer, as a result of rising fuel prices.
As a result of the rising gas prices, 24% of travelers said the maximum distance they are willing to drive for a leisure trip this summer is 200 miles. However, if it meant significant savings on airfare costs, 21% would be willing to spend 10 hours or more driving to a destination this summer.

About the Data: Results for this USA Today/Gallup poll are based on telephone interviews conducted May 12-15, 2011, with a random sample of 1,024 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.

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