“U.S. gasoline demand will likely decline in 2008 for the first time in more than 17 years.” So says a new report by Cambridge Energy Research Associates, a consulting firm affiliated with IHS Inc. “For the first time since the 1970s and early 1980s the number of miles driven by Americans has clearly begun trending downward,” the report continues.

To read more about the report and the effect of $4+ gasoline, click here.

Driving Less, Americans Finally React to Sting of Gas Prices, a Study Says (The New York Times 6/19/08)

June 24, 2008