Gas Prices Survey: Future Increases Could Have Larger Impact Than Past Ones

Oil prices have increased sharply over the past month, so gas prices are expected to go up by about 30 cents per gallon in August. American consumers are no strangers to rising gas prices, but this latest increase could have a big impact on summer travel plans. How will an increase now impact people compared to past increases?

gas prices

Gas Prices

In Ask Your Target Market’s latest survey, 32% of respondents said that they follow news about gas prices and changing gas prices very closely. 46% said they somewhat pay attention to news about gas prices and changing prices in their area. 15% said they don’t pay much attention to gas prices. And 7% said they don’t pay attention at all.

Travel Habits

In general, 34% of respondents said that gas prices have very much impacted their travel habits over the past several years. 35% said that gas prices have somewhat impacted their travel habits over the past several years. 21% said that gas prices haven’t had a big impact on their travel habits. And 10% said that gas prices haven’t impacted their travel habits at all.

More Specifically, 26% of respondents said that gas prices have had a large impact on their travel plans for this summer. 34% said that gas prices have somewhat impacted their travel plans for this summer. 27% said gas prices haven’t had much of an impact. And 12% said gas prices haven’t impacted their summer plans at all. Those numbers haven’t been much more than expected thus far. In an April 2013 survey, 29% of respondents said that they definitely expected gas prices to impact their summer travel plans, and 31% said that gas prices would probably have an impact on their summer travel plans.

Latest Increase

But the summer isn’t over yet, and gas prices are still expected to increase even more. 43% of respondents said that if gas prices increase by 30 cents per gallon this August, it will definitely impact their travel plans or habits for the remainder of the summer. 31% said the increase will probably impact their travel habits. 19% said the increase probably won’t impact their plans. And 7% said it definitely won’t.

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: Fill ‘er up 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 July 12 via AYTM’s online survey panel.

ABOUT THE AUTHOR: Anne Pilon
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.