Who Is $4 Gas Hurting? Starbucks!

A survey by Kelley Blue Book says that new car shoppers are giving up Starbucks to help offset the cost of $4 gas. Sorry, big green mermaid lady! The KBB study results reveal that 28 percent of new-car shoppers have stopped going to Starbucks or other coffee houses entirely, and 21 percent indicate they are going less often due to skyrocketing gas prices.

“What was once a frequent occurrence such as the morning trip to Starbucks or taking the family to a ballgame just isn’t as financially feasible when $4-per-gallon gas must also share a place in the budget,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. “The fact that nearly three-quarters of new-vehicle shoppers see this as a permanent situation demonstrates the enormous effect that skyrocketing fuel costs can have on not just the auto industry, but the entire American economy.”

Not everyone is sad, however. The Toyota Prius is dancing on the grave of the latte (and the Hummer?). KBB says “sixty-two percent of shoppers say that gas prices have either changed their mind or made them think strongly about vehicles they normally wouldn’t have considered.”

GAS PRICES CAUSE NEW-CAR SHOPPERS TO CUT SPENDING, BELIEVE SITUATION IS PERMANENT [KBB]

(Photo: Paxton Holley )