Can a One Day Gas Boycott Be Successful in Getting Lower Gas Prices at the Pump?

Gas prices keep increasing and consumers periodically rally others to participate in one day gas boycotts. Let's take a look at what happens when consumers don't buy gas for one day.

-- The Gas Boycott Email --

The email that I received said, "Do not buy gas on May 15. In April 1997, there was a 'gas out' conducted nationwide in protest of gas prices. Gasoline dropped 30 cents a gallon overnight. ... There are 73,000,000-plus Americans currently on the Internet network, and the average car takes about $30 to $50 to fill up. If all users did not go to the pump on the 15th, it would take $2,292,000,000 out of the rich oil company's pockets for just one day. So please do not go to the gas station on May 15, and let's try to put a dent in the Middle Eastern oil industry for at least one day."

-- Check the Facts --

It is important to check the facts when you receive emails because many times there are incorrect facts, rumors and lots of perpetuated urban legends. In the above email there are at least three incorrect statements.

First, the email claims there are 73 million internet users but the real number is closer to 200 million. Second, the email claims in 1997 there was a one day drop in gas prices of .30 cents a gallon. The Department of Energy statistics don't substantiate this claim. Third, the email claims the gas boycott would take away over $2.2 billion in revenue from the oil companies for one day. But that assumes that everyone fills their gas tanks everyday and we all know not everyone fills up their tanks every day.

-- What Impact Would Gas Boycott Have? --

I started to think about the impact the gas boycott would have on lost revenue to the oil companies. I realized that if consumers want to participate they will most likely either buy gas the day before to top off their tanks or wait and buy gas the next day. This means that the same amount of gas will be purchased. The oil companies will still sell the same amount of gas. Any lost revenue from lower gas sales on the day of the gas boycott would be made up for either the day before or after. How would this get the oil companies to lower their prices?

-- The Best Way for Consumers to Get Lower Gas Prices --