Fuel costs continue to influence driving behavior

The Federal Highway Administration reported that travel during June 2008 on all roads and streets in the nation fell by -4.7% compared to June last year. June marks the eighth consecutive month of traffic volume decline compared to the same month in the previous year. Travel YTD through June in 2008 fell by -2.8% compared to 2007.

Now that gas prices started falling in July and August, will consumers continue to reduce driving, or will they revert back to their old driving patterns? We'll know in about a month, when the July traffic volume report is released.