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America’s Thirst for Gasoline May Not Recover After Iran War
The New York Times • • business
Key Points:
- Judy Vassallo, an 89-year-old retired art teacher in Philadelphia, switched from driving her 2002 Honda CRV to taking the city bus due to sharply rising gasoline prices following U.S. and Israeli attacks on Iran.
- Gasoline prices nearly doubled, prompting Vassallo and others to seek alternatives like public transit, which she finds convenient and cost-saving, especially with free bus rides for seniors.
- Despite Americans' strong attachment to cars and a 21% increase in spending at gas stations from February to May, overall gasoline consumption dropped 6.1% in May compared to the previous year.
- The reduction in gasoline use is attributed partly to improved vehicle fuel efficiency and partly to consumers cutting back due to higher fuel costs, according to industry analysts.
