The volume of traffic on U.S. highways has stopped growing, and with it gasoline consumption, as rising prices curb driving behavior. Traffic volumes in July were 0.3 percent lower than a year earlier, after seasonal adjustments, according to the Federal Highway Administration. Traffic growth has been negative in two months so far this year, the first readings below zero since the start of 2014, (“Traffic volume trends”, FHWA, September 2018). Volumes were up by less than 0.3 percent in the three months from May to July compared with the same period a year earlier, down from annual growth of 2-3 percent throughout 2015 and 2016. There has been a correlation between traffic volumes and the cyclical rise and fall […]