The supply of oil is not likely to increase suddenly, which means “demand destruction” is the only path to lower prices. The good news is that $125 oil and $4 gas are changing the American way of life, albeit modestly.
Consumers are driving less, and gas consumption is down. And, as the New York Times reports, employers across the country are making it a top priority to ease the pressure from high gas prices. Such “gas perks” are helping to keep employees happy and are hopefully chipping away at the US’s 20 million barrel a day habit. Here are some of the most common perks:
- 4-day work week
- increased telecommuting
- internet subsidies for telecommuting
- subsized subway and bus passes
- decentralized office space closer to employees
- smaller office space (not exactly a perk)
Unfortunately, in order to lure and retain employees, many companies are also offering gas-cost reimbursement checks. That may keep employees happy, but it won’t help bring down $125 oil.
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