April 12, 2006
USA - The Energy Information Association (EIA) reported that U.S. inventories of gasoline dropped 5.4 million barrels during the week ending March 24 -- the biggest decline in over two and a half years -- and just ahead of the peak vacation travel season when gas consumption typically increases significantly.
With rising fuel costs a growing concern, American consumers are finding new ways to save on gas. But they’re not just considering four-wheeled alternatives.
According to a new survey by Nationwide Insurance, in conjunction with the American Motorcyclist Association, 35 percent of motorcyclists surveyed said they will ride their bikes more over the next year as a result of volatile fuel prices. (See full press release below).
Plus, as bikes become increasingly more cost-efficient and manufacturers are offering products for every type of riding need, enthusiasts are turning their hobby into an everyday form of transportation. Survey respondents reported they spent 26 percent of their total riding time last year commuting to work. In addition:
◦ The survey shows that both male and female motorcyclists expect to ride their bikes for approximately 22 more hours than they did in the past year.
◦ Male motorcyclists expect to ride 172 hours over the next year, while female riders expect to ride 146 hours.
◦ Motorcyclists also indicated they will pay $3 to $4 more per gallon before they stop riding.
