Despite surging fuel costs, Americans keep on trucking

NEW YORK (AFP) – Soaring fuel costs have so far failed to dampen US enthusiasm for hitting the road in summer.

In fact, gasoline demand neared an all-time high around the weekend ahead of the July 4th Independence Day holiday, according to official data.

Analysts say US families have been able to absorb the higher fuel costs without making changes to their lifestyles.

“The American consumer’s demand for gasoline is insatiable,” said Jason Schenker, Wachovia Securities, who noted only modest changes in auto preferences of US motorists.

AFP