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How many miles will Americans drive daily during November 2008?

Current forecast: > 5,000,000,000 to 5,200,000,000 miles (35% chance1%)
Combining all predictions, the current most likely outcome is > 5,000,000,000 to 5,200,000,000 miles with a probability of 35% (up 1% in last 1 day)

We know that with gasoline prices higher over most of 2008, Americans have cut back their driving substantially. The Federal Highway Administration (under U.S. Dept. of Transportation) publishes month by month estimates of average daily vehicle-miles driven. See for example:

http://www.fhwa.dot.gov/ohim/tvtw/08septvt/08septvt.pdf

Notice particularly Figure 2, "Travel on U.S. Highways by Month - Urban Highways". Miles are well below last year's value. But notice past trends, where there seems to be an uptick for October, then a dip again for November, at least back in 2007. What will happen this year? It seems fairly certain that when the November estimate is reported it will be lower than 2007, but with fuel prices recently dropping, will people buck last year's trend and put on more miles than might be expected?


Settlement details: As reported by the U.S. Federal Highway Administration, at:

http://www.fhwa.dot.gov/ohim/tvtw/tvtpage.cfm

Reporting by FHWA seems to lag a couple months behind, therefore settlement date will be set in January 2009. The value to be used for settlement will be vehicle-miles traveled as shown in the figure for 'Travel on U.S. Highways by Month -Urban Highways" PDF report which will be available at the above link noted.

 
Forecast history, %
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Make your prediction!

Less than 5,000,000,000 miles
4%
> 5,000,000,000 to 5,200,000,000 miles
35%
> 5,200,000,000 to 5,300,000,000 miles
31%
> 5,300,000,000 miles
30%
Activity: H$3,655
Question suspends in 3 weeks

Suspend date: Sat 31st Jan 11:59pm PST (3 weeks to go)

Initial likelihoods: Less than 5,000,000,000 miles: 5%, > 5,000,000,000 to 5,200,000,000 miles: 25%, > 5,200,000,000 to 5,300,000,000 miles: 30%, > 5,300,000,000 miles: 40%

Action history:

Created Mon 24th Nov 2008 5:54pm PST by raidersin09

Suspend date: Sat 31st Jan 11:59pm PST (3 weeks to go)
more info...

 

Predictions (22)

22 predictions

2 hours ago
vidal1 predicted > 5,000,000,000 to 5,200,000,000 miles (H$100 at 34%)
2 weeks ago
emmag predicted Less than 5,000,000,000 miles (H$50 at 3%)
2 weeks ago
rbrog77 predicted > 5,200,000,000 to 5,300,000,000 miles (H$100 at 32%)
3 weeks ago
sockrchick28 predicted > 5,200,000,000 to 5,300,000,000 miles (H$129 at 32%)
3 weeks ago
bigken1 predicted > 5,000,000,000 to 5,200,000,000 miles (H$500 at 30%)
more

Comments (1)

  1 gtown
great market!
posted 3 weeks ago

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