Gas guzzling temptation as prices fall

With prices at the pump continuing to slip, will memories of the summer’s gas crunch fade, tempting drivers to fall off the conservation wagon?

NEW YORK (CNNMoney.com) — Although it was a painful summer for most drivers, it could have been worse had Americans not cut back on their gasoline consumption. Now, as summer ends and gasoline prices fall, drivers may be tempted to resume their gas guzzling habits.

Since July, when gas hit a record high near $4.10 a gallon nationwide, prices have fallen 10% to $3.678 a gallon on Thursday. And according to Geoff Sundstrom of the American Automobile Association, prices could fall even further.


“We think gas prices could reach $3.50 a gallon nationwide sometime this month,” Sundstrom said.

Retail gas prices typically fall after Labor Day as demand drops off during the fall months. Gas prices have also been brought down by a recent decline in oil prices due to a slowing global economy and a stronger dollar.

Still, the impact of changing American driving habits has had a measurable effect on the price of gas.

“Clearly conservation is playing a role,” Sundstrom said.

CNN