Last year, AutoNation Chairman and CEO Mike Jackson declared that if gasoline ever hit $5 a gallon people would freak out. Basically, gasoline for five bucks would cause Americans to change their driving habits, drastically switch to smaller cars and demand fuel efficiency changes.
Well, we’re close. In fact, California is already averaging $4.32 a gallon for gas.
However, the effects of rising gas prices can already be seen before we even reach the $5 threshold. As early as November, people in California used 2.6 percent less gas than the previous November. Across the country, Consumers purchased more smaller, fuel efficient vehicles in February.
If the cost of a gallon of gas finally hits five bucks, will you freak out? Will you trade-in your gas guzzler for a fuel sipper? Cut back on other expenses? Use public transportation more often? Let us know in the comments section below.
And if you’re looking for tips on how to squeeze the most miles per gallon out of your car, might we suggest this blog post from January. Plus, stay tuned to the blog as we’ll outline our favorite fuel efficient vehicles in an upcoming article.