Friday, May 16, 2008

Here is what a friend sent me as a comment on my recent post regarding gas prices



Gas Prices Could Slam Summer Travel
Tipping Point for Daily Driving Is $4.38
Three in 10 Americans say the soaring price of gasoline will keep them from taking a vacation road trip this summer, and the tipping point for most people to cut back on their routine driving is within sight -- on average, a bit more than $1 a gallon away.


The owners of this gas station in Rochester, N.Y., show what they think of gas prices on their street front sign.
(Forest McMullin/WpN)
With gas now averaging $3.22 for a gallon of regular unleaded, Americans on average say that at $4.38 they would significantly cut back on the amount of driving they do.
Another apparent impact is already at hand -- a potentially damaging one for segments of the tourism industry. Twenty-nine percent of Americans in this ABC News/Washington Post poll say that – specifically because of the price of gasoline -- they're not planning a long-distance driving holiday this summer.
The economic impact may be broader still, reaching out across the retail industry that powers much of the nation's economy. To pay the higher price of gas, 43 percent of Americans say they're cutting back on other spending,

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