Gasoline Demand Down For 5th Straight Week
The price of gas is approaching record levels and America, who has always voted with its pocketbook, is responding. Fuel sales have gone down for the fifth straight week, despite an improving economy that would indicate more people are out on the road.
"More people are going to work," said John Gamel, director of gasoline research for MasterCard. "That means more people are driving and they should be buying more gas."
Instead, about 70 percent of the nation's major gas-station chains say sales have fallen, according to a March survey by the Oil Price Information Service. More than half reported a drop of 3 percent or more — the sharpest since the summer of 2008, when gas soared past $4 a gallon.
Consider the cost of filling your tank is only going to go up, maybe even higher than the record $4.11 price per gallon set in July, 2008, you have to make a choice. I took my bike for my first spin outside yesterday. I ride because I like it, but I may rely on it for transportation this summer!