ROUGHLY one in three U.S. motorists expect to drive more in August as low gasoline prices help fuel optimism for the broader economy, a latest retail survey showed.

    The survey by the U.S. National Association of Convenience Stores (NACS) is the latest piece of evidence of the resurgence in U.S. road traffic that has enticed U.S. refiners to run at record highs. The higher than expected surge in U.S. gasoline demand — a closely watched figure that represents 10 percent of the global market — has also helped provide a floor to crashing oil prices.

    U.S. motorists are paying an average of US$2.58 per gallon, nearly a dollar less than a year ago, according to AAA, the nation’s largest motorist advocacy group. And a quarter of respondents expected prices to continue to decline, up from 10 percent a month ago.

    The survey found that nearly 80 percent of people say gas prices influence how they feel about the economy. And with gas prices down nearly US$1 from a year ago, U.S. motorists are feeling positive about the direction of the economy, the survey found.

    “There is good news for retailers as consumer optimism picks up during peak vacation season,” said NACS vice president of strategic industry initiatives Jeff Lenard.

    The survey found that 34 percent of people expect to drive more during August, compared to 8 percent who said they will drive less.

    The national average gasoline price per gallon dipped below US$2 in January, but most people don’t think the country will see those prices again any time soon. Respondents said if pump prices fall below US$2, they would drive even more frequently and have additional discretionary income.(SD-Agencies)