Conservation evident in US gasoline data

US consumers of vehicle fuel don’t have to be forced into conservation. When fuel prices rise, they know what to do.Gasoline prices certainly rose in 2005. Everybody thought they were high in 2004, when, according to weekly Oil & Gas Journal data, the pump price averaged $1.83/gal. Last year’s average jumped to $2.18/gal. In weeks following Hurricanes Katrina and Rita, the price exceeded $3/gal.Questions arose during the year about why consumers weren’t conserving.There were calls for mandatory consumption cuts.But consumption numbers are in, and they show clearly that consumers conserved without being forced by their government to do so.According to OGJ estimates co...

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