A total of 57 percent of U.S. drivers anticipate gasoline prices will increase as summer nears while an additional 36 percent believe prices will stay the same, according to a National Association of Convenience Stores (NACS) consumer fuels survey.
Since the last NACS survey in February, gasoline prices have risen 6 cents nationally. Prices are 32 cents higher than last year and 65 cents higher than April 2016.
When asked about the overall economy, 62 percent were optimistic.
“Higher gas prices don’t appear to be affecting overall sentiment about the economy but there are some signals worth watching,” Jeff Lenard, NACS vice president of strategic industry initiatives, said. “For one, younger consumers ages 18 to 34 are most likely to say they will cut back on eating out or other spending, which could continue if gas prices remain a concern.”
Only 27 percent of Americans said they will drive less as prices increase while 9 percent said they will drive less over the next 30 days.
NACS has been conducting regular surveys on consumer sentiment and economic issues since January 2013. An estimated 80 percent of gasoline is sold at convenience stores in the United States.
For April’s survey, 1,501 adults were surveyed who purchase fuel at least once monthly.