5.27.2008

CNN: As gas goes up, driving goes down

Let's see if we can figure this out. Here we have a corporate media story telling us that US gas demand has contracted as people cut back because of high prices at the pump. This seems plausible. - Ed.

At a time when gas prices are at an all-time high, Americans have curtailed their driving at a historic rate.

The Department of Transportation said figures from March show the steepest decrease in driving ever recorded.

Compared with March a year earlier, Americans drove an estimated 4.3 percent less -- that's 11 billion fewer miles, the DOT's Federal Highway Administration said Monday, calling it "the sharpest yearly drop for any month in FHWA history." Records have been kept since 1942.

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