Americans aren’t taking the rise in oil prices lightly. In fact, purchasing a more fuel-efficient car could be in the near future for a number of Americans if gas prices continue to inch closer to the $5 mark.
U.S. consumers are more likely to invest in a fuel-efficient than they are to take any other action to offset the higher costs of purchasing fuel, according to new poll results released by Gallup. Specifically, one in three consumers would replace their current cars with a more fuel-efficient one if gas prices continue to rise no higher than $5 per gallon, while another 13% would only change cars if gas prices it $6 per gallon. Another 38% of Americans plan to keep their current automobiles regardless of how high oil prices go.
Here’s how the rest of the poll results broke down:
|Less than $6||$6 to $7.99||$8 to $10||More than $10||Won't buy new car||No opinion|
|Purchase more fuel efficient vehicle||32%||13%||5%||2%||38%||10%|
|Use mass transit||19%||7%||5%||2%||52%||14%|
|Purchase electric car||12%||10%||9%||3%||57%||9%|
|Move from current home||11%||5%||6%||3%||69%||6%|
|Change jobs/quit working||10%||11%||3%||1%||72%||3%|
The average price for a gallon of regular grade gasoline, all taxes included, fell just over 11 cents to about $3.85 between Monday and last week according to the Department of Energy. The states charging the most per gallon for gasoline include California ($4.12), Colorado ($3.75), Florida ($3.79) Massachusetts ($3.91) and New York ($4.06), while the most expensive cities to purchase gasoline in the country included Boston ($3.92), Los Angeles ($4.16), Chicago ($4.19) and Houston ($3.72).
Should You Purchase a New Car?
If you plan to purchase more fuel-efficient car to keep up with rising oil prices then a great website to visit is Fueleconomy.gov, which is administered by both the DOE and the Environmental Protection Agency and features gas mileage estimates on automobiles manufactured between 1984 through this year. You can also use the site to find the cheapest local gasoline prices in your area and to compare how your gasoline prices compare with those across the country.
If you’re not in the market for a new car then there are number of things you can do to save on gas, like observing the speed limit, planning shorter routes when running errands and car pooling with others whenever possible.
An automobile that runs can also help you cut your fuel costs. The Federal Trade Commission estimates that tuning up your engine can increase the mileage on your car by an average of 4% depending on your car’s condition.