Extended Stay News

Gas Prices Have Impact on Business Travel

5 May 2011

The rising price of gasoline is known to have an effect on leisure travel and car buying, but skyrocketing costs for fuel are beginning to take their toll on business travel as well, according to Enterprise Irregulars.

This impact was revealed by an informal survey conducted by Beagle Research. Over the course of the past month, the average price of a gallon of gas has risen by more than 40 cents, leading to a higher cost of commuting for business travelers.

In an older edition of the survey, which was conducted on March 21 when gas was still $3.51 per gallon, 11 percent of people said they would travel less. The more recent survey, however, was carried out on April 30, when Americans shelled out $3.92 per gallon on average. This second survey found that 16.67 percent of people were cutting back on travel, representing an increase of more than 5 percent.

People reported that they were reducing on travel in many ways, including driving less and spending less time flying elsewhere for business. Many extended stay properties offer free shuttle services, however, allowing business travelers to save some money on gas for their rental cars.

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