Will the Gas Boycott Planned for July 3rd -5th Work?

Are the crazy high gas prices getting you down? With the average price around $5 a gallon, I bet I know what your answer is.

I'm seeing all over social media that a gas boycott is planned for three days in July (July 3rd - 5th) to help lower the prices. I was intrigued so did a little research.

The boycott talk started on Tik Tok with this viral post.

It got tons of views, along with a bunch of other similar videos.

The message was simple. It said, "In 2008 no one bought gas for 3 days and the prices went back to normal. This works for every product."

Boycott rumors are all over Twitter too.

I saw an article on Yahoo recently that said a Facebook post a few months ago talked about a gas protest back in April of 1997 that successfully lowered gas prices by 30 cents overnight. Wow. That would be nice, wouldn't it?

Will it work? Probably not.

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The article quotes Patrick De Haan who heads up petroleum analysis at GasBuddy as saying, "I've never seen a gas boycott result in anything."

Darn.

De Haan continued, "Simply shifting demand one day before or after the boycott doesn't reduce demand enough to make any difference. It would take a sustained reduction in gas consumption, over a period of weeks, not merely days, to reduce demand enough to have an impact on prices.

So, don't freak out if you forget to fill up before July 3rd and need gas before July 5th. Sounds like wishful thinking that boycotting will actually help.