New Study Shows Fuel Price Points that Drive Lifestyle Changes
Prices need to reach $5.00 per gallon for a majority of consumers to use public transportation, the study says.
At what price per gallon will consumers change their lifestyle? A new study by custom research firm Gfk NOP says that consumers are ready to take action at $2.50 per gallon. The 2005 GfK NOP Green Gauge Study says that when gas hit $2.50 per gallon, 26 percent of Americans surveyed said they kept their most gas guzzling vehicle in the garage as much as possible, and an additional 22 percent said they tried to reduce the amount of time they spend on the road. At four dollars a gallon, consumers say they will adopt new strategies to save on fuel by carpooling, walking, biking or using other forms of transportation, limiting total drive time, using their most gas-efficient vehicle, or immediately purchasing a more fuel-friendly car. Prices would need to reach $5 per gallon before a majority of consumers say they would resort to public transportation.
About the 2005 GfK NOP Green Gauge Study The 2005 Green Gauge Study surveyed 2,000 adults ages 18 and up using in-person, in-home interviews. All participants included in the study owned one or more vehicles. About GfK NOP Headquartered in New York, GfK NOP is a company of GfK Custom Research, North America, part of the GfK Group. With home offices in Nuremberg, Germany, The GfK Group is among the top-three market research organizations in the world. Its activities cover five business divisions: Custom Research, Retail and Technology, Consumer Tracking, Media and Healthcare. In addition to 13 subsidiaries in Germany, The GfK Group has more than 130 subsidiaries and affiliates in 61 countries.
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