Lower Gas Prices Survey: Majority Have Noticed Decreasing Prices

Gas prices around the country have been decreasing in recent weeks, and are even down below three dollars in a handful of states. But how many drivers have noticed a significant change in their area? And how might it be impacting their driving or traveling habits?

lower gas prices

Lower Gas Prices

In Ask Your Target Market’s latest survey, 14% of respondents said that they have noticed gas prices getting much cheaper in their area recently. 54% said that gas prices have been decreasing a bit. 18% said that gas prices in their area are about the same as they have been. Just 3% said that gas prices in their area have been increasing lately. And 11% said they haven’t noticed.

Driving Habits

We all know that rising gas prices have impacted some travel habits. People go on shorter vacations or choose to carpool or use public transit for daily transportation. But would lower gas prices allow people to go back to their old habits, or would they just keep doing what they’re doing? 20% of respondents said that lower gas prices would definitely have an impact on their current travel habits. 31% said lower gas prices would probably lead to a change in travel habits. 39% said it probably would not change anything. And 10% said their travel habits definitely would not change due to lower gas prices.

Economic Impact

And how about the overall economic impact? Of course lower gas prices could lead to consumers having more cash to spend in other places, but some have argued that decreasing prices is actually a bad sign. 28% of respondents said they think lower gas prices are a very good sign for the economy. 42% think it is a somewhat positive step. 26% don’t really think it is a positive step. And 4% said they think lower gas prices are not a positive sign for the economy at all.

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: Gas Prices at Their Lowest Levels Since January 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 November 13 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.