WASHINGTON (Reuters) - Motorists on U.S. roads applied the brakes hard on driving when gasoline prices peaked over the summer at more than $4 per gallon, according to the latest government figures released on Tuesday.
The 3.6 percent year-over-year decline in miles traveled on all roads in July cemented a downward trend begun nine months ago in response to rising pump prices and economic weakness.
While the June drop was 5 percent, the July drop was still sharp and may be more illustrative of consumer habits and concerns about the economy. July is a usually heavy driving period marked by traditional summer vacations and the Independence Day holiday.
http://www.reuters.com/article/GCA-Oil/idUSTRE48T6U620080930