Teeth Gritted, Drivers Adjust to $4 Gasoline - NYTimes.com - The Diigo Meta page

• 25 May 08
  

  Epopteia ...

  economics inflation US

  • The Transportation Department reported Friday that in March, Americans drove 11 billion fewer miles than in March 2007, a decline of 4.3 percent. It is the first time since 1979 that traffic has dropped from one March to the next, and the month-on-month percentage decline is the largest since record keeping began in 1942.

  • Typically, gasoline sales rise before Memorial Day weekend. But gasoline sales dropped nearly 7 percent last week compared with the same week in 2007, according to an estimate by MasterCard.
  • On Friday, gasoline prices reached yet another record, a nationwide average of nearly $3.88 a gallon. That figure was up 4 cents in one day and is 65 cents higher than this time last year, according to AAA. Diesel hit $4.65 a gallon on Friday, up $1.73 a gallon in a year.
  • Every one-cent increase in gasoline prices means Americans pay $1.42 billion more a year for gas
  • The Energy Department expects gasoline sales to fall by 0.6 percent this year, the first drop since 1991,

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