Costly oil spurs long-term change in consumers

SAO PAULO (Reuters) – High oil prices have caused “dramatic” and longer-term changes in consumer behavior, U.S. Acting Deputy Energy Secretary Jeffrey Kupfer said on Wednesday.

“Oil prices continue to come down but it’s unclear what will happen with the prices,” said Kupfer while meeting with representatives of Brazil’s ethanol and automobile industry at the American Chamber of Commerce in Sao Paulo.

“But at the same time, U.S. citizens are making decisions that will carry forward regardless of how fuel prices fluctuate,” he told journalists.

Reuters