Rapidcreek@lemmy.world to politics @lemmy.world · 4 months agoBiden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pumpapnews.comexternal-linkmessage-square32fedilinkarrow-up1145arrow-down16
arrow-up1139arrow-down1external-linkBiden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pumpapnews.comRapidcreek@lemmy.world to politics @lemmy.world · 4 months agomessage-square32fedilink
minus-squaresurewhynotlem@lemmy.worldlinkfedilinkarrow-up12·4 months agoIs not though. https://www.eia.gov/todayinenergy/detail.php?id=19191#:~:text=The price elasticity of motor,to raise automobile travel 1%25. People don’t start joy riding like mad when the price goes down. The continue to just go to work, to the store, and all the normal stuff. Maybe a couple people road trip more when gas hits $2, but not a significant number.
minus-squareKevonLooney@lemm.eelinkfedilinkarrow-up5·4 months agoPeople may actually drive more when gas prices go up. They might drive instead of flying to a vacation to save money.
Is not though.
https://www.eia.gov/todayinenergy/detail.php?id=19191#:~:text=The price elasticity of motor,to raise automobile travel 1%25.
People don’t start joy riding like mad when the price goes down. The continue to just go to work, to the store, and all the normal stuff. Maybe a couple people road trip more when gas hits $2, but not a significant number.
People may actually drive more when gas prices go up. They might drive instead of flying to a vacation to save money.