Iran · U.S. · Fortune Technology
Americans are yet to be fully sold on electrifying their personal transport, however
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That might also change if prices stay elevated for much longer, something most consumers and analysts both predict.
Key facts
- More than half of American drivers say they have to change their behavior if gas prices exceed $4 a gallon, according to a March AAA survey, a share that rises the more expensive gas gets
- The poll surveyed more than 2,500 American adults at the end of April, asking how many had taken specific actions due to higher gasoline prices
- One April poll from car shopping platform AmericanMuscle found 12% of Americans are working remotely more often to save on gas costs, with a small number also saying they are looking for a new job
- The conflict in the Middle East itself might be teetering on a tentative ceasefire, but higher gasoline prices are likely here to stay
Summary
The war in Iran has done what once seemed impossible: forced Americans to rethink the idea of driving everywhere. The conflict in the Middle East itself might be teetering on a tentative ceasefire, but higher gasoline prices are likely here to stay. Americans are responding to higher gasoline prices the only way they realistically can: by changing behavior and trimming budgets. The poll surveyed more than 2,500 American adults at the end of April, asking how many had taken specific actions due to higher gasoline prices. While the rise in U.S. gasoline prices might still pale in comparison to the marginal increases drivers in Europe and Asia are paying for, expensive gas in the U.S. hits particularly hard.