Survey: Gas prices fuel driving changes

The results and analysis of a national survey completed last week by AAA show that 84 percent of the respondents have changed their driving habits or lifestyle in some way to deal with the recent spike in gas prices.

Combining trips and errands was the most commonly reported cost-cutting measure with 60 percent of respondents reporting have already made this adjustment.

Based on AAA's Daily Fuel Gauge Report (www.fuelgaugereport.aaa.com), Idaho's average price for a gallon of regular grade gasoline has risen 50 cents in just the past 30 days to $3.61. That's still well short of the national average price of $3.81, which has risen 30 cents in the past month.

The U.S. and Idaho average prices today are 25 and 23 cents higher than a year ago, respectively. The rapid run-up in prices has hit motorists' wallets earlier than the record pace from a year ago.

Nearly nine in ten (87 percent) respondents would change their drive habits if prices remain at current levels for a sustained period. The ways they would adjust show some interesting differences compared to changes they've already considered or adopted.

    In particular, the recent increase in gas prices has led 16 percent of respondents to purchase or lease a more fuel-efficient vehicle. Should prices remain at current levels, the AAA survey shows that this number would more than double—jumping to 34 percent.

    The survey also shows that 52 percent are driving fewer miles; 50 percent have reduced shopping trips; 45 percent are dining out less; and 34 percent have delayed major purchases. In all of the categories measured, more drivers would change behaviors if gas prices remain at current levels for a sustained period.

    AAA's telephone survey consisted of 1,024 adults and was conducted March 1-4, 2012.

    "It's not supply and demand fundamentals that are pushing prices higher, but rather uncertainty of future supplies and more speculative behavior among investors," according to AAA Idaho spokesman Dave Carlson.

A measure of the speculation is the record number of contracts taking net long positions, AAA said, essentially betting that prices will go higher. The Commodity Futures Trading Commission (CFTC) reported a new record number of contracts  (92,149) for both West Texas Intermediate (WTI) and RBOB (wholesale) gasoline futures a week ago.

    Here's how pump prices compare among a sample of Idaho cities today and the increase in the past 30 days: Boise $3.65, up 54 cents; Coeur d'Alene, $3.62, up 46 cents; Pocatello, $3.48, up 51 cents; Twin Falls, $3.59, up 49 cents; Idaho Falls, $3.47, up 47 cents; Lewiston, $3.62, up 46 cents.