News You Can Use (but have not heard)….
Gasoline prices have fallen for 60 consecutive days – the longest streak of declines in more than a year – letting American drivers pass on savings at the pump to consumer retailers during the U.S. economy’s all-important holiday season.
A gallon of gasoline now costs $3.25 on average in the US, more than 60 cents below the year’s peak in mid-September and about 30 cents cheaper than this time last year, according to data from the American Automobile Association. In 14 states, average prices are now less than $3 a gallon.
Cheaper pump prices are welcome news for President Joe Biden, whose reelection campaign is touting “Bidenomics” as the answer for inflation-plagued consumers. The gasoline reprieve may also give retail stores a boost during the critical year-end shopping season by padding pockets with a little more cash. U.S. consumers, whose consumption spending makes up around two-thirds of the US economy, spent a record $9.8 billion online during Black Friday.
Courtesy the N&O
Gas prices are expected to continue to fall. Good news - you have not heard - for those planning to travel during the holidays.
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Posted: 11/28/2023 at 07:44AM