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The Swiss also pay attention to their wallets when driving. If fuel prices increase by 10 percent, traffic volume will decrease by 0.4 percent.
This is evident from research by the State Secretariat of Economic Affairs (Seco). The influence of fuel prices on the behavior of motorists between 2010 and 2019 was examined.
In addition to traffic volume, higher prices at the pump also affect car purchases. If petrol and diesel prices rise by 10 percent, new registrations of electric and hybrid vehicles in Switzerland will increase by 0.7 percentage points. At the same time, registrations for combustion engines fell by 0.4 percent.
However, higher prices do not affect the speed driven. Driving behavior appears to depend on long-term behavioral patterns, according to Seco experts. (SDA/AWP)
Source:Blick
I am Liam Livingstone and I work in a news website. My main job is to write articles for the 24 Instant News. My specialty is covering politics and current affairs, which I’m passionate about. I have worked in this field for more than 5 years now and it’s been an amazing journey. With each passing day, my knowledge increases as well as my experience of the world we live in today.
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