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Mon April 11, 2011
What effect will rising gas prices have on Michiganders?
If you seek rising gas prices, look about you.
Gas prices in Michigan have ticked up over the course of this past week, an increase of 11 cents, bringing the statewide average up to $3.86.
But what will the effect on Michigan drivers be?
Mantill Williams, a spokesperson for the American Public Transportation Authority, says there is a tipping point at which people begin to consider changing their driving habits.
From ABC News:
Williams: "The tipping point probably has moved somewhat over time," Williams said.
"As gas prices rise, consumers get accustomed to it. As you start to get close to $3.50 and toward $4 that's the point when people start to see there's a cheaper way to get around."
Gas and oil prices have been on the rise, in part, because of turmoil in oil-producing regions of the Middle East, like Libya.
The average price of gasoline has increased 19 cents over the past three weeks and is now $3.76, according to the Lundberg Survey of fuel prices. Tucson, Ariz., had the country's lowest average price for gas at $3.41 while San Francisco had the highest at $4.13, according to the Associated Press.
How about you? How do rising gas prices change your life?