Half of U.S. adults consider gas prices to be “too high” when they reach $3.44 per gallon, according to AAA. What has been speculated for some time is that when gas prices hit a ‘discomfort level’ or tipping point, consumer behaviors change.
The index, developed by AAA, shows that roughly two-thirds of Americans offset high pump prices by changing their driving habits or lifestyle. Not surprisingly, and after paying more than $3 a gallon for more than two years, the country has a new tipping point.
The survey shows that 46 percent believe gas prices are too high when they reach $3.00 a gallon and 61 percent believe they’re too high when pump prices reach $3.50 a gallon. Most Americans—90 percent—believe gasoline is too expensive when the price hits $4 a gallon.
Consumers report changing their lifestyle in a number of ways to offset higher gas prices, including cutting back on driving, shopping and dining out to save money.