Saturday, April 16, 2011
"The empirical evidence shows that escalating gas prices prompt people to cut back on driving and travel, work more from home and combine trips," said Prof. Akshay Rao, a marketing expert at the University of Minnesota's Carlson School of Management. "We are seeing a lot more sensitivity to energy consumption." For five straight weeks, Americans have bought less gas than in comparable periods last year, according to MasterCard Spending Pulse, which monitors gas sold at 140,000 stations nationwide.
Posted by Ray at 5:00 AM