With the recent decline in oil prices and the break in rising pump prices, will consumers go back to their old ways? Personally, I think it is too little too late. Even if we see a decline in pump prices (we’re still at $4 per gallon!), my belief is that consumers have already changed their habits, and they are now more accustomed to conserving and reducing their gasoline usage. We now take public transportation more often, we carpool more often, we drive less, we combine trips, and we’re ditching our monstrous SUVs and trucks for smaller, more fuel efficient cars.
Unless we see a huge decrease in gas prices (I’m talking about a nearly impossible sustained decrease of 50 percent or more), I don’t see consumers changing their new habits any time soon. Unfortunately for the oil industry and fortunately for the environment, consumers have picked up some good habits they’re likely unwilling to change.
0 Responses to “Too little too late?”