As gas prices continue to climb to record levels, more new car shoppers are looking to adjust their spending habits, a new study finds.

According a Kelley Blue Book Marketing Research study 65 percent of shoppers are spending less on non-essential retail items as a result of high gas prices, compared to 42 percent just six months ago. Additionally, 53 percent indicated they eat out less often, 48 percent purchase fewer media entertainment items, 15 percent carpool or find alternative means of transportation and 10 percent have delayed purchasing a new home.

Gas Prices/Shopping Habits Study
PURCHASE/HABIT	OCT. 2007	APRIL 2008	DIFFERENCE
Eat out less often	38%	53%	+15%
Carpool	10%	15%	+5%
Delay Buying Home	5%	10%	+5%
Less Non-Essential Shopping	42%	65%	+23%
Purchase Fewer Media Items	33%	48%	+15%
Won't Change Habits	43%	22%	-21%
Source: kbb.com

The portion of shoppers who say they will not change their spending habits due to gas prices has decreased from 43 percent in October 2007 to 22 percent in April 2008.

"The effect gas prices have on consumer spending and shopping behaviors indicate how important fuel costs are to the economy," said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. "Gas prices are already affecting vehicle sales in every segment, and traditional sport utility vehicles have been especially hard hit. Other industries will feel the pinch as consumers cut out life’s little luxuries like clothes, eating out and entertainment just so they can pay the fuel bills."

Many contributing economic factors have been detrimental to consumers and their shopping and purchase decisions in the last few months. During the third week of April, the price of oil jumped to nearly $120 a barrel and forecasts have speculated gas will cost an average of $4 per gallon in some parts of the country during the coming summer months.

With this in mind, consumers are considering more fuel-efficient vehicles. The study showed that 47 percent of new-car shoppers would seriously consider a more fuel-efficient vehicle if gas prices increase another 25 cents or less, compared to 26 percent in October 2007.