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59% of Americans Have Cut Spending in 2012 Due to High Gas Prices

Marketwatch -- Nearly six in ten Americans (59%) have cut back on non-essential spending since the beginning of 2012 due to high gasoline prices, according to new research released today by Bankrate.com

"Despite the fact that oil prices are currently near six-month lows, consumers are still clearly feeling the impact of elevated gas prices in an environment of stagnant wages," said Greg McBride, CFA, Bankrate.com's senior financial analyst.

As of April 30th (just before the data was collected), the national average price for a gallon of regular gasoline was $3.83. In May 2011, when the national average price for a gallon of regular gasoline was $3.96, Bankrate.com found that 63% of American households were cutting their non-essential spending due to high gas prices.

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Submitted May 21, 2012 By: BurntOrange

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FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: May 22, 2012 7:19:03 PM Ignore FunMyster Report Abuse me 2
robaloma Champion Author Houston Posts:2,606 Points:693,350 Joined:Feb 2011	Message Posted: May 22, 2012 5:07:45 PM Ignore robaloma Report Abuse yep
TXryder Champion Author Texas Posts:2,720 Points:434,680 Joined:Jan 2012	Message Posted: May 22, 2012 12:28:33 PM Ignore TXryder Report Abuse 59 percent cut spending, and the remaining 41 percent have no spending to cut because they are unemployed.
sydb7 Champion Author Atlanta Posts:3,561 Points:1,920,735 Joined:Mar 2003	Message Posted: May 22, 2012 10:48:20 AM Ignore sydb7 Report Abuse Not a surprise move (for the non-1%)!
remay Champion Author Houston Posts:6,973 Points:2,119,340 Joined:May 2006	Message Posted: May 22, 2012 6:00:33 AM Ignore remay Report Abuse Duh, is this really a surprise?
nb52 Champion Author Grand Rapids Posts:7,790 Points:1,548,800 Joined:Nov 2008	Message Posted: May 22, 2012 3:30:12 AM Ignore nb52 Report Abuse How do they come up with some of these numbers? I think the number cutting back is far higher than 59%.
jrs4125 Champion Author Indiana Posts:2,768 Points:593,695 Joined:Sep 2011	Message Posted: May 22, 2012 3:29:57 AM Ignore jrs4125 Report Abuse I would say the actual rates are higher, mayby 75%.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:755,230 Joined:Mar 2011	Message Posted: May 21, 2012 10:32:22 PM Ignore clpassenubye Report Abuse I think that number is low
OilOnTheCheap Champion Author Ventura Posts:2,108 Points:451,360 Joined:Jan 2012	Message Posted: May 21, 2012 9:34:06 PM Ignore OilOnTheCheap Report Abuse Everything is getting more expensive.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: May 21, 2012 9:33:10 PM Ignore frostyWV Report Abuse surprised it's not higher.
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: May 21, 2012 9:27:57 PM Ignore crreed1 Report Abuse high gas high food prices
kishoreCA Champion Author Ventura Posts:3,129 Points:394,845 Joined:Mar 2012	Message Posted: May 21, 2012 9:25:53 PM Ignore kishoreCA Report Abuse yes this was a great eye opener. I would never be feeling easy to spend like before.
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: May 21, 2012 9:20:59 PM Ignore cmsense Report Abuse More Wall St.Journal propaganda.
jkpsr Champion Author New Jersey Posts:4,089 Points:1,103,855 Joined:Jun 2005	Message Posted: May 21, 2012 9:19:07 PM Ignore jkpsr Report Abuse And the price of natural gas keeps falling. There is a message here.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: May 21, 2012 9:18:22 PM Ignore tedjm1 Report Abuse The spending has changed into different shopping areas.
captain013 Champion Author Maryland Posts:2,024 Points:460,605 Joined:Sep 2011	Message Posted: May 21, 2012 9:16:15 PM Ignore captain013 Report Abuse I got retired and the wife travels. What we dont spend on gasoline we now spend on electricity when i am home. Trade off.
umitb Champion Author Indianapolis Posts:3,681 Points:844,415 Joined:Apr 2010	Message Posted: May 21, 2012 9:15:13 PM Ignore umitb Report Abuse ok
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: May 21, 2012 9:14:59 PM Ignore LostToo Report Abuse I buy that...
jack_flash Veteran Author Idaho Posts:458 Points:892,725 Joined:Sep 2008	Message Posted: May 21, 2012 9:13:57 PM Ignore jack_flash Report Abuse Yeah, thanks a lot gasoline.
jrschl Champion Author Louisville Posts:2,977 Points:683,015 Joined:Jun 2011	Message Posted: May 21, 2012 9:12:57 PM Ignore jrschl Report Abuse Because they've had to...
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: May 21, 2012 9:12:17 PM Ignore regout Report Abuse That,s the way.
chicoCA Champion Author California Posts:1,986 Points:1,776,100 Joined:Nov 2007	Message Posted: May 21, 2012 9:11:40 PM Ignore chicoCA Report Abuse okay
joel27nc Champion Author Raleigh Posts:10,547 Points:1,860,320 Joined:Mar 2008	Message Posted: May 21, 2012 9:11:31 PM Ignore joel27nc Report Abuse I'm part of the 59%, surprised that number isn't higher.
jetskijerry Champion Author North Carolina Posts:3,906 Points:774,220 Joined:Mar 2011	Message Posted: May 21, 2012 9:11:11 PM Ignore jetskijerry Report Abuse I was driving 1000 miles a week...I now drive 50.
Colts13 Champion Author Indiana Posts:1,586 Points:550,160 Joined:Mar 2011	Message Posted: May 21, 2012 9:10:41 PM Ignore Colts13 Report Abuse That includes me also.
rahcat Champion Author Grand Rapids Posts:2,478 Points:664,900 Joined:Jan 2010	Message Posted: May 21, 2012 9:10:37 PM Ignore rahcat Report Abuse Don't you just love that HOPE and Change?????
jetskijerry Champion Author North Carolina Posts:3,906 Points:774,220 Joined:Mar 2011	Message Posted: May 21, 2012 9:10:35 PM Ignore jetskijerry Report Abuse Very true
69Bonne Champion Author Gary Posts:1,160 Points:475,100 Joined:Sep 2005	Message Posted: May 21, 2012 9:10:29 PM Ignore 69Bonne Report Abuse So have I.
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: May 21, 2012 9:09:43 PM Ignore Ray_10589 Report Abuse I have ,,
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: May 21, 2012 9:09:18 PM Ignore Ray_10589 Report Abuse yep ...
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,071,675 Joined:Mar 2004	Message Posted: May 21, 2012 9:08:13 PM Ignore miser709 Report Abuse How can the economy grow with this happening?
otherdave Champion Author Indiana Posts:3,403 Points:1,270,810 Joined:Oct 2008	Message Posted: May 21, 2012 9:08:03 PM Ignore otherdave Report Abuse Not by choice but necessity.
1fulltank Champion Author Buffalo Posts:7,913 Points:1,546,260 Joined:Nov 2008	Message Posted: May 21, 2012 9:07:48 PM Ignore 1fulltank Report Abuse How about cutting spending due to unemployment also?
CdnLynx Champion Author Ontario Posts:1,024 Points:524,960 Joined:May 2008	Message Posted: May 21, 2012 9:06:42 PM Ignore CdnLynx Report Abuse Will history show that the greed of petroleum industry and the culpability of politicians, fighting to win the leaderships of western democracies vice political cooperation to solve vital economic dilemmas, be the ultimate demise of major western countries and their very way of life they purport to embrace! Sad what greed accomplishes! Stupid politicians and their corrupt power brokers!
kgbellman Champion Author Ann Arbor Posts:2,723 Points:733,790 Joined:Mar 2011	Message Posted: May 21, 2012 9:05:57 PM Ignore kgbellman Report Abuse Agree with Tigerpaw46 - not cut spending, just cut spending on other things to pay for gas
mpg611 Champion Author Cleveland Posts:2,345 Points:571,645 Joined:Apr 2011	Message Posted: May 21, 2012 9:05:10 PM Ignore mpg611 Report Abuse The price of electing and re electing idiots based on social and cultural agendas and religious beliefs. All pointless and no room for in politics.
N5EXY Champion Author Austin Posts:5,502 Points:1,512,030 Joined:Jul 2004	Message Posted: May 21, 2012 9:04:42 PM Ignore N5EXY Report Abuse No kidding! I have cut spending on gas! 169 days until the ejection. Vote No,Bama!
Bleeder Champion Author Virginia Posts:8,038 Points:1,700,375 Joined:Jan 2008	Message Posted: May 21, 2012 9:04:21 PM Ignore Bleeder Report Abuse I am surprised that number is so low.
Bigwaynef Champion Author South Carolina Posts:11,487 Points:2,082,710 Joined:Dec 2006	Message Posted: May 21, 2012 9:04:14 PM Ignore Bigwaynef Report Abuse Wow, that's all?
jem069 Champion Author Detroit Posts:2,548 Points:689,030 Joined:Jan 2011	Message Posted: May 21, 2012 9:03:44 PM Ignore jem069 Report Abuse Ok
emptypockets2008 Champion Author Michigan Posts:14,648 Points:1,307,715 Joined:Sep 2008	Message Posted: May 21, 2012 9:03:35 PM Ignore emptypockets2008 Report Abuse Cut out vaca. First here.
ScottE Champion Author Orange County Posts:4,352 Points:2,199,780 Joined:May 2002	Message Posted: May 21, 2012 9:03:07 PM Ignore ScottE Report Abuse big oil scam is right Protest on 6-1-12
USCCRN Sophomore Author Long Island Posts:145 Points:104,240 Joined:Mar 2012	Message Posted: May 21, 2012 9:02:10 PM Ignore USCCRN Report Abuse Most people cut their spending when the economy crashed in 2008.
rx7racerca Champion Author Calgary Posts:4,205 Points:1,114,205 Joined:Sep 2008	Message Posted: May 21, 2012 9:01:32 PM Ignore rx7racerca Report Abuse What else can people do - but I doubt things are going to change much. $2/gal gas is history, unless we have another global market/financial crisis - in which case the low gas prices won't help all the new unemployed buy gas. I can live with higher gas prices easier than I can with unemployment. Bad news, or worse news.
FreeeBee Veteran Author Atlanta Posts:343 Points:224,595 Joined:Jan 2007	Message Posted: May 21, 2012 9:00:53 PM Ignore FreeeBee Report Abuse I cut 1000 dollar vacation per year..I was spending before 3 years every year. due to gas prices.. on 4th of july..
ScottE Champion Author Orange County Posts:4,352 Points:2,199,780 Joined:May 2002	Message Posted: May 21, 2012 9:00:27 PM Ignore ScottE Report Abuse I'll be there as our Local Chevron's x 4 and 76 stations are way over the top. I'd assume Mobil is even higher. Protest is great ideal!@ who thought of this on 6-1-12?
oldiesman Champion Author New York Posts:6,437 Points:2,195,760 Joined:May 2006	Message Posted: May 21, 2012 8:57:43 PM Ignore oldiesman Report Abuse Including me.
Holly123 Champion Author Charlotte Posts:3,212 Points:792,160 Joined:Dec 2010	Message Posted: May 21, 2012 8:55:33 PM Ignore Holly123 Report Abuse Duh! What's the surprise there?
luvmyburgi Champion Author Ohio Posts:5,836 Points:961,945 Joined:Sep 2005	Message Posted: May 21, 2012 8:52:36 PM Ignore luvmyburgi Report Abuse That should not be a shock to anyone!
tarheelcoastie Champion Author Greensboro Posts:5,206 Points:1,113,105 Joined:Jan 2009	Message Posted: May 21, 2012 8:52:28 PM Ignore tarheelcoastie Report Abuse Only 6 out of 10!