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NEW YORK (Reuters) - A spike in gasoline prices is fueling what could be the biggest year for U.S. bicycle sales since the Arab oil embargoes more than three decades ago, a leading bike association says.
"For bicycles, high gasoline prices are a good thing," said Tim Blumenthal, executive director of Bikes Belong, a national coalition of bicycle suppliers and retailers.
U.S. gasoline prices struck an all-time record above $3 a gallon after Hurricane Katrina hit the Gulf Coast, shutting several oil refineries, though prices have eased slightly since then, according to government surveys. ....full story here
"For bicycles, high gasoline prices are a good thing," said Tim Blumenthal, executive director of Bikes Belong, a national coalition of bicycle suppliers and retailers.
U.S. gasoline prices struck an all-time record above $3 a gallon after Hurricane Katrina hit the Gulf Coast, shutting several oil refineries, though prices have eased slightly since then, according to government surveys. ....full story here