Gasoline price top concern for consumers: survey

NEW YORK (Reuters) - Despite a flailing U.S. economy and a national housing crisis, gasoline prices are the leading factor in changing American consumer spending, according to a survey by the National Association of Convenience Stores.

Forty-five percent of U.S. consumers said soaring gasoline prices have effected their spending more than rising energy and food costs, the flagging economy or the national mortgage and lending crisis, the survey found.

The survey, released on Monday, was of 1,215 Americans on behalf of the National Association of Convenience Stores (NACS).

On average the tipping point for the average consumer to cut back on gasoline use is $3.71 a gallon, according to the survey.

"If gasoline prices get to $3.71, that is the point at which, on average, consumers said they would change," said Geoff Lenard, the spokesman for NACS.

Still, current gasoline prices, which have been on average hovering around the $3 a gallon level, have already prompted 13 percent of consumers to cut back on driving. Another 50 percent said they would cut back on driving when gasoline prices hit $3.25.

Average U.S. gasoline prices hit a record high of $3.24 in May 2007, according to the travel and auto group AAA, and the U.S. Energy Department is forecasting $3.50 a gallon gasoline by this spring.

Climbing gasoline prices have spurred some consumers to change their behavior in other ways as well, the survey found.

Nineteen percent reported buying a more fuel-efficient car in the past year, while another 19 percent said they considered buying one.

Eighteen percent said they would be more likely to walk, 17 percent said they would drive a lot less, 12 percent would turn to mass transit and nine percent would use a bicycle.

As gasoline prices increase, American consumers have prioritized price over other factors such as where they buy their gasoline or what brand of gasoline they buy.

"Not only will most consumers shop based on price, nearly one in three will inconvenience themselves -- at a convenience store -- to save a penny a gallon," according to the NACS analysis of the survey.

Almost a quarter of consumers said they would drive five minutes out the way, just to save a penny, while another 15 percent said they would be willing to drive 10 minutes out of the way.

But trying to save money by literally going out of one's way can backfire: a 20 minute round-trip out of the way to save about 10 cents could end up costing about $1.50, according to NACS estimates.

(Reporting by Rebekah Kebede; Editing by Marguerita Choy)