Retail gasoline prices are now as low as they were in the “roaring ‘90s.” The 1990s, that is, when the energy crisis of the 1970s had faded from American consumers’ memories, the economy was strong and the market share of sport utility vehicles (SUVs) had more than tripled over the decade.
As in the 1990s, low-cost gasoline is changing consumers’ habits, encouraging them to drive more and purchase less fuel-efficient vehicles. What’s different now is that U.S. automakers face far more stringent fuel-economy standards.
