Travel on all roads and streets changed by -5.3% (-12.9 billion vehicle miles) for November 2008 as compared with November 2007. Travel for the month is estimated to be 230.4 billion vehicle miles. Cumulative Travel for 2008 changed by -3.7% (-102.1 billion vehicle miles). The Cumulative estimate for the year is 2,656.2 billion vehicle miles of travel.
So far the slowing economy is more than offsetting the sharp decline in gasoline prices last year. As the demand falls, oil price might fall more also the oil companies.
From CNBC: Take your positions: Energy Earnings
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