CHART OF THE DAY: Are Higher Oil Prices Already Prompting Auto Usage To Roll Over?

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The economic redound has — unfortunately — corresponded with an increase in gas prices, which of course creates drag on the economy.

And it seems that drag is kicking in pretty quickly.

After steady year-over-year gains in total vehicle miles traveled, that measure, according to the Department of Transportation, is already rolling over. Total vehicle miles this January were actually below last year! (via Calculated Risk)

chart of the day, oil prices, vehicle miles driven

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