Survey: Consumers adjust to higher gas prices

The 2006 Gas Prices Consumer Intentions and Actions Survey showed that 76 percent of consumers believe fluctuating gas prices have affected their spending habits, up from 67.2 percent in 2005.

Nearly half of consumers, or 45 percent, say they will drive less to save money, and 37.2 percent say they plan to cut vacations and traveling. Another 36.2 percent will limit dining out, and 22.2 percent say they will delay a major purchase.

Carpooling efforts also are on the increase – 8 percent said they plan to carpool, compared to 4.5 percent last year.

Shoppers with household incomes of $50,000 or more say their spending has been dampened by gas prices; 69.3 percent acknowledge the negative effects, compared to 59.1 percent last year.

The survey was conducted May 3–10 and polled 7,388 consumers.[[In-content Ad]]