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Surveys show that gasoline prices are starting to weigh on consumers' psyches, as well as their budgets, but will the recent price surge propel permanent transportation changes in the nation?

Economist Glen Langan thinks it will, with the pivotal level being prices well over $3 per gallon gasoline. Initially, economists thought the $3 per gallon threshold would compel consumers to cut back consumption, Langan said. This didn't occur, despite gasoline's six to nine month long plateau over $3. A few months and 50-60 cents later, consumers have cut back, and Langan says the permanence of gasoline's stratospheric level is the reason.

Gasoline price psychology

"The cutback is a combination of the old and the new price, but it's mostly a reaction to the old $3 gasoline. Consumers would have cut back then, but they didn't because they concluded that it was temporary, a summer price," Langan said. "But after prices didn't drop and continued to increase early this year, well before the new summer driving season, consumers have concluded that the $3 or higher price for gasoline is here to stay, so they're cutting back accordingly. From a budget standpoint, they're making the right choice."

Continue reading As gasoline heads for $4, consumers cut back

As gasoline heads for $4, consumers cut back originally appeared on BloggingStocks on Tue, 29 Apr 2008 16:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer spendingdrivinggas mileagegasolinegasoline pricesinflationinthenewsmiles per gallonoiloil pricesTue, 29 Apr 2008 16:32:00 EST<![CDATA[A few investor, consumer tactics for the $4 gasoline era]]>http://www.bloggingstocks.com/2008/03/14/a-few-investor-consumer-tactics-for-the-4-gasoline-era/http://www.bloggingstocks.com/2008/03/14/a-few-investor-consumer-tactics-for-the-4-gasoline-era/http://www.bloggingstocks.com/2008/03/14/a-few-investor-consumer-tactics-for-the-4-gasoline-era/#commentsFiled under: ,

With the national average of unleaded regular gasoline above $3.15 and oil's recent price surge not fully felt by refiners yet, there's a good chance gasoline will hit $4 per gallon this summer in the United States, particularly if driving patterns mirror previous summers.

Moreover, gasoline is already above $4 in certain high-cost zones in California and in Hawaii, the Associated Press reported Friday.

What's a good way to cope with the above? Turn it your advantage, to the extent possible, at both ends. Accordingly, here are a few tactics for investors and consumers in the $4 gasoline era.

Continue reading A few investor, consumer tactics for the $4 gasoline era

A few investor, consumer tactics for the $4 gasoline era originally appeared on BloggingStocks on Fri, 14 Mar 2008 17:13:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autoscarsgas mileagegasolinegasoline pricesmpgOceaneeringOIIoiloil pricesoil services sectorRIGTransoceanvehiclesFri, 14 Mar 2008 17:13:00 EST