It's become an article of faith that, by the magic hand of Adam Smith, when gas prices go up people will drive less. People believe it, because it's often true. New data from the Department of Energy, though, shows that's not always the case. Several other factors influence how much people drive, including seasonality, economic growth... When gas prices rise, people drive less, right? Not always, it turns out
It's become an article of faith that, by the magic hand of Adam Smith, when gas prices go up people will drive less. People believe it, because it's often true. New data from the Department of Energy, though, shows that's not always the case. Several other factors influence how much people drive, including seasonality, economic growth...