Kicking the gas habit

Demand growth is slowing, not long after prices hit a record $3.23 a gallon, but it may be too early to call it a trend.

NEW YORK (CNNMoney.com) — American motorists may have finally eased up on the gasoline habit.

After years of strong demand despite record high prices, there’s evidence that the rate of growth in gas consumption is easing. Whether last spring’s spike above $3 made a difference, the recent credit worries have crimped demand, or if the decline is merely a statistical blip remains to be seen.


But one fact is clear. Demand for gasoline in the United States grew just 0.4 percent in the latest four weeks from a year earlier, according to the Energy information Administration, which polls refineries and wholesalers to gauge the amount of fuel sent to filling stations, down from 1.4 percent growth just five weeks earlier.

The average rate of growth over the last decade or so is about 1.5 percent, according to the federal agency.

CNNMoney.com