UTICA, New York— Record-breaking oil and gasoline prices are causing many Americans brace for even steeper hikes, with 87% who say they expect the nationwide average price for regular unleaded gasoline to hit $4 by Memorial Day, a new Zogby Interactive poll shows.
This pessimism at the pump isn't just in the short term—nearly two thirds (62%) believe $5 per gallon gas will arrive sometime this summer and the vast majority of Americans (93%) say they are concerned about a potential rise in gasoline prices over the next year—67% say they are very concerned.
As Americans spend more for every fill-up, those with the least to spend are the most worried—77% of those with less than $35,000 in household income say they are very concerned about the potential rise in gasoline prices over the next year.
Gas-price anxiety might not be quite as strong among those from wealthier households, but even among those with more than $100,000 in household income, 60% say they are very concerned.
Most also fear that the days of inexpensive fuel may be gone for good—66% are doubtful the nationwide average price for regular unleaded gasoline will ever again fall below $3 per gallon.
The interactive survey of 7,815 adults nationwide was conducted May 6-9, 2008, and carries a margin of error of +/- 1.1 percentage points.
Please click the link below to view the full news release:
http://www.zogby.com/news/ReadNews.dbm?ID=1506
