make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Drivers start to cut back on gas as prices rise

READ MORE:

NEW YORK (AP) - With the price of gas above $3.50 a gallon in nearly the entire country, and $3.70 a gallon in the Wilmington area, there are signs that Americans are cutting back on driving.

It marks a turnaround from a steady increase in demand for fuel as the economy improved.

According to MasterCard SpendingPulse, which tracks spending at 140,000 service stations, gas sales have fallen for five weeks in a row.

Before that, demand had increased for two months. And some analysts had expected the trend to continue, what with the 216,000 jobs that were added in March.

Instead, according to a March survey by the Oil Price Information Service, about 70 percent of the nation's major gas-station chains say sales have fallen.

This year, gas prices have shot up as unrest in North Africa and the Middle East rattled energy markets.

A gallon of unleaded regular costs $3.77 on average, and only Wyoming has an average lower than $3.50. Most analysts are sticking to forecasts of a high of $4 a gallon, though some have predicted $5 gas.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.