If you drive a car, chances are that you have noticed the gas prices going down dramatically in the past 6 months. This welcomed reduction in our expenses has also been experienced on shelves all across the country. The cost of fuel dropping roughly 33% in the past 6 months has also reduced the cost of goods being sold at stores, and freed up some disposable income for many shoppers. With holiday spending increasing this year, analysts are pointing their fingers to the falling prices at the pump as one of the biggest contributing factors.
Gas Prices Still Falling After 6 Months Of Decline
If you were filling up a 12 gallon tank on a little economy car once per week, you are likely saving about $60 per month now on gasoline compared to just 6 short months ago. That frees up some money for you to go out and grab some holiday gifts for people n your list, or to buy yourself something nice. The increase in disposable income in significant when spread across the board for millions of households across the US. Even something such as $60 a month being freed up for the average low-end consumer means that there is a lot more money being stimulated in other areas.
Retailers experienced a strong Black Friday a couple weeks ago, and they have been continuing to experience a growth in sales as the holidays get closer and closer. It has been years since Americans have seen these kinds of prices at the pump. The price breaks have been experienced by major retailers too, who consume nearly countless gallons of fuel each year shipping goods to their stores. In years past when gas prices spiked up above $3 per gallon, the cost of nearly all goods rose dramtically, especially the heavier and bulkier items. While we still might not be able to fill up the car with $10 and still have enough left over for a pack of gum like in the early 1990’s, we sure are enjoying the lower gas prices. A couple places in the US are even reporting gas prices below $2 a gallon already.
Gas Prices Still Falling After 6 Months Of Decline.