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When gas prices surged in March, lower-income drivers tried to cut back, but they still felt the sticker shock. On the other hand, rich drivers barely flinched.
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People with lower incomes are driving less and devoting more of their budgets to transport as gas prices soar.
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NY Fed report finds gas price surge hitting lower incomes harder Yahoo FinanceSame Shock, Different Roads? A K-Shaped Pattern at the Pump Liberty Street EconomicsHigher Gas Prices Are Hitting Lower-Income Americans the Hardest The New York TimesGasoline Surge Fuels a K-Shape Divide in US, Research Shows Bloomberg.comThe 'K-shaped econom
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