Driving Less, Americans Finally React to Sting of Gas Prices, a Study Says

HOUSTON -- As the price of gasoline quadrupled over the last decade, American drivers seemed to defy the laws of economics by pumping more into their vehicles year after year. But this is the year American drivers appear to be finally succumbing to price shock at the pump, according to a new report by Cambridge Energy Research Associates, a consulting firm affiliated with IHS Inc. It says the slowdown in the economy and soaring gasoline prices have finally persuaded Americans to drive fewer miles in fewer gas-guzzling vehicles.