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U.S. Definition of Excessive Fuel Prices: $3.44 Per Gallon
More than half of American adults define gasoline prices as "too high" when they reach $3.44 per gallon, according to a new price index developed by AAA.
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More than half of American adults define gasoline prices as "too high" when they reach $3.44 per gallon, according to a new price index developed by AAA.
U.S. fuel prices currently average $3.52 per gallon, down from $3.86 a year ago, according to AAA's Daily Fuel Gauge Report. The new index says three in five American adults consider today's price too high.
The auto insurance company opines that the public's definition of excessive fuel prices may be slowly rising as drivers resign themselves to permanently higher costs. Gasoline prices in the U.S. surged to a record $4.11 per gallon in July 2008 and have been above $3 per gallon for the past 28 months.
Nearly two-thirds of American drivers are offsetting today's fuel costs by altering their vehicle use, according to AAA's survey. Slightly more than half report switching to more fuel efficient vehicles, and almost nine in 10 say they are simply driving less.
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