Monday, April 21, 2008

High gasoline prices hurting U.S. consumers: poll

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WASHINGTON (Reuters) - As gasoline prices roar to successive record highs, more Americans are hurting at the pump, plan to cut back on driving and buy fewer gas-guzzling vehicles, according to a consumer group survey.

U.S. households spent more than $100 billion on gasoline during the first quarter of this year, more than double the $40 billion spent in the same period just six years ago, according to the Consumer Federation of America.

"That's a huge bite out of the household budget," said Mark Cooper, CFA's research director. "People will use less gasoline."

The CFA surveyed 1,004 "representative Americans" during the first week of April.

U.S. average gasoline prices reached a record $3.50 gallon on Monday, according to the travel and auto group AAA, with diesel hitting a peak $4.20 a gallon.


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