DAYTONA BEACH ? Another day, another newspaper feature highlighting the impact of rising gas prices on consumer purchasing behavior.�
And so it is that the Daytona Beach News-Journal earlier this week reported that area residents have curbed their driving habits, a result of prices that have increased in some cases more than a nickel in the course of just a few hours.
"It's crazy, especially when you've got a large car," said Catherine Hendricks, who drives an SUV. "I'm already looking for a small car."�
Daytona gasoline costs have increased from an average of $3.16 a gallon last week to $3.40 as of Sunday, according to the AAA Daily Fuel Gauge. And Avi Patel, owner of a Get N Go Citgo station, said the movement has impacted business, with customers purchasing less gasoline and spending less inside his store.
"It is affecting business,? he said.�
Jack Giles, who stopped by Get N Go to get some gas, said he has stopped filling up his vehicle. "I am putting less gas in. I spend a few dollars here and a few dollars there," he said.
Lawrence J. Belcher, a professor of finance at Stetson University, said consumers have few choices beyond cutting back on driving, and he suggested consumers might begin looking at carpooling and price shopping.�
"If you are in tight budget already, this is one of those things you can't plan for. It is totally random and of an uncertain magnitude." he said.
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