We are buying smaller cars. GM has already announced that it will discontinue the ridiculous Hummer - the symbol of driving arrogance. Meanwhile truck and SUV sales have plunged. GM is looking to introduce a line up mini cars to win back market share.
Price pain isn't just at the pump. Businesses that consume a lot of gas are raising their prices and that includes florists, taxi and limo services, pizza delivery, and towing companies.
Gas prices have impacted on one popular form of entertainment: racing. While major racing circuits have sponsors to help defray fuel costs, the smaller racing circuits are feeling the pinch. The cost of high-octane fuel for the racecars is up to $8.25 a gallon. And that is not the worst of it. The truck-and-trailer rigs that log long miles to haul the cars to tracks generally have miles-to-the-gallon averages in the single digits.
In the suburbs, the 2 and 3 car families are feeling the pinch. People are ditching the 4 wheelers for 2 wheelers. Motorcycles, scooters and bicycles are on the road in bigger numbers.
GO Transit says high gas prices have led to an increase in ridership, and the transit company plans to expand to accommodate the extra commuters. Other commuter systems are also reporting an increase in ridership.
Police are reporting that drivers have been slowing down and their radar guns are catching fewer speeders. Slowing down from 120 km/hr to 100 km/hr can save as much as 20% in gas consumption. While towing companies are reporting that the number of calls from drivers who have run out of gas has skyrocketed. Drivers are waiting until the last minute to fill up in hopes of finding cheaper gas.
Slower highway traffic is expected to save lives. Today's high gas prices could cut auto deaths by nearly a third as driving decreases, with the effect particularly dramatic among price-sensitive teenage drivers, the authors of a new study said.
There has been an upswing in online shopping as consumers cut back on their trips to the mall. One consumer noted that he reduced his grocery bill by shopping online because it eliminated impulse shopping in the supermarket.
It's not just online shopping but online classes. A growing number of students trying to save gas money by enrolling in online classes. Online enrollment has been steadily growing for years, but college administrators say the spike in gas prices — to more than $4 a gallon in most places — has fueled a surge in students seeking classes without the cost of commuting.
A leading real estate firm says soaring gas prices are forcing some cottagers to consider reducing the strain on their wallets by selling their summer properties. A poll by Royal LePage says almost one in five cottage owners surveyed say they would consider selling their properties if gas prices continue to rise. The real estate firm says the number of potential sellers is up seven percentage points from last year. Meanwhile, a third of respondents said rising fuel prices had already crimped their cottaging plans by reducing the number of trips they planned to take this summer.