Thursday, February 19, 2009

Vehicle-Miles Driven at a Record Low

Calculatedrisks published this chart today:



The fall in Vehicle-Miles driven is unprecedented, no wonder crude oil is piling up in inventories. In the monthly data, It seems that there is a beginning of recovery so maybe prices will go back up at the end of the year.

3 comments:

  1. 1974: change was from +7% to - 2% for a decline of 9% in growth rate

    1979: change was from +6% to -3% for a decline of 9% in growth rate

    The current growth rate decline has not even been 5%, as the starting point was only +1%. If this economic crisis were to be only equal to the 1970s oil shocks, then we would expect yoy change in vehicle-miles to reach -8%

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  2. In my opinion, record gas prices since 2006 have already affected miles driven before the current recession started so we are not in a situation of shock as it was the case int the 70s.

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  3. If you feel that fuel cost is emptying your wallet then your option should be fuel additives , are touted as great products that help you get more mileage out of your tank of gas

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