Cheaper Gas Survey: Drivers Likely to Spend More on Other Things

Over the last couple of months, people around the country have noticed falling gas prices. In some states, prices have even dropped below $2 a gallon. Prices are also expected to continue falling in the early days of 2015. So how might cheaper gas impact people’s travel habits?

cheaper gas

Cheaper Gas

In Ask Your Target Market’s latest survey, 56% of respondents said that they’ve noticed much cheaper gas prices in their area over the last couple of months. 30% said they’ve noticed gas prices that are somewhat cheaper than usual. 6% said the gas prices in their area have stayed about the same. Just 2% said their gas prices have increased. And 6% said they just haven’t really noticed.

Driver Impact

But it seems that many people aren’t quite convinced these cheaper prices are here to stay. Those who might have altered their travel habits when gas prices initially went up aren’t changing them back just yet. 61% said that they have driven about the same amount since gas prices went down as they did before. Just 22% said they drive more often due to lower gas prices.

Future Impact

However, if gas prices continue to decline or at least stay low, 44% said they would be likely to drive more often than they do now. In addition, 34% said they would be likely to change their other travel habits. And 57% said they would be likely to spend more of their money on other things, which could have a positive economic impact in some areas.

You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.

Photo Credit: 2005 Prices! from Flickr

What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.

Results were collected on December 21 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.