$3-plus for gas, but we keep buying more

If anyone ever questioned America’s love affair with the automobile or our willingness to pay up for gasoline, this summer should remove all doubt. Despite record-high gas prices that seem relentless – $3.13 a gallon in New York, $3.23 in L.A. and Chicago – Americans are on track to burn through more fuel this summer than ever.

Even though the average cost of a gallon of gas is 25% higher than it was a year ago, Americans in the last four weeks have consumed 140,000 barrels more a day, a 1.5% increase from last summer’s 9.4 million barrels. I’ll be the first to admit that I thought $3-a-gallon gas might be the tipping point, but it’s just not the case, according to the experts.

CNN Money