Aug. 5th, 2008
In March, the yearly decline was a bit over 3%. That was the biggest drop in miles driven since 1942. May's drop of nearly 4% over last year was the most ever, according to the Transportation Department
While significant, this drop in miles driven is only the beginning of what appears to be a prolonged reduction in gasoline consumption. Wait until the mix of vehicles on the road changes.
While significant, this drop in miles driven is only the beginning of what appears to be a prolonged reduction in gasoline consumption. Wait until the mix of vehicles on the road changes.