The signs are everywhere that skyrocketing gas prices are starting to change drivers’ behavior. In the United Kingdom, people are taking fewer car trips, riding public transportation more often, and carpooling more frequently, all of which led earlier this year to an eight percent drop in U.K. petrol sales, according to The Christian Science Monitor.
The country’s gasoline prices — about £4.50 a gallon, or $9 — are the highest in Europe, yet analysts report that motorists are driving less across the continent.
In the United States, where gas is about half the price of petrol in the U.K., drivers are abandoning their SUVs in droves, leading to a steep drop in sales. The Washington Post reports that the price of a used Chevrolet Suburban, the iconic American gas-guzzler, has fallen by as much as $8,000 in the past six months and that new SUVS are going unsold across the country. Meanwhile, demand for Toyota’s hybrid Prius is so strong that many U.S. customers face a six-month wait, and the company attributed its 11.5 percent sales drop in June to the fact that it did not have enough small-car inventory to meet demand.
In the United States, where gas is about half the price of petrol in the U.K., drivers are abandoning their SUVs in droves, leading to a steep drop in sales. The Washington Post reports that the price of a used Chevrolet Suburban, the iconic American gas-guzzler, has fallen by as much as $8,000 in the past six months and that new SUVS are going unsold across the country. Meanwhile, demand for Toyota’s hybrid Prius is so strong that many U.S. customers face a six-month wait, and the company attributed its 11.5 percent sales drop in June to the fact that it did not have enough small-car inventory to meet demand.