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GasBuddy News Article

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Soaring gas prices fail to slow consumer spending

The Washington Post -- Americans complained about higher gas prices last month, but it wasn't enough to stop them from shopping. The Commerce Department said retail sales rose 1.1% in February, on top of a 0.6% improvement in January that was bigger than originally estimated.

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Submitted Mar 15, 2012 By: des7902
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Author Topic: Soaring gas prices fail to slow consumer spending Back to Topics
REPLIES (newest first) Post a Reply
PDQBlues
Champion Author San Diego

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Message Posted: Mar 16, 2012 9:47:36 PM

That's for sure.
DanMtz
Champion Author Oakland

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Message Posted: Mar 16, 2012 7:25:03 PM

That was last month.
albert2008
Champion Author Winnipeg

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Message Posted: Mar 16, 2012 8:26:40 AM

good for the economy
investmentdr
Champion Author Cleveland

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Message Posted: Mar 16, 2012 8:25:27 AM

ever think they might be the cause
07skydriver
Champion Author Ohio

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Message Posted: Mar 16, 2012 6:28:26 AM

The economy is not as bad as the GOP would like you to believe.
Tacodan
Champion Author Cincinnati

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Message Posted: Mar 16, 2012 6:16:36 AM

slows me down and I'm in the high 30's mpg
Caduceus26
Champion Author Jacksonville

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Message Posted: Mar 16, 2012 5:36:56 AM

Further indication that the economy is improving. inspite of higher gasoline prices consumer confidence is high and discretionary spending is on the increase.
dr047
Champion Author Cleveland

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Message Posted: Mar 16, 2012 5:06:47 AM

The folks that drive cars that get 40 MPG have something left over to Buy Something.
WalRus49
Champion Author Boston

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Message Posted: Mar 16, 2012 1:44:07 AM

More organized mayhem and pillage...........
UseLessGasFolks
Champion Author Iowa

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Message Posted: Mar 16, 2012 1:31:30 AM

An interesting twist.
dave27johnson
Champion Author Chicago

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Message Posted: Mar 16, 2012 12:35:20 AM

"Several factors have helped buffer Americans’ budgets. A big contributor — and also one of the most unpredictable — has been the relatively mild winter, analysts said. That has reduced many families’ heating costs and balanced out the rise in gasoline prices. It also has spurred jobs in construction and even inspired shoppers to work on their yards, helping to boost sales at building and garden stores by 1.4 percent in February."
el_fr
Champion Author Massachusetts

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Message Posted: Mar 15, 2012 11:31:11 PM

Just wait a month
CVA19
Champion Author Salem

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Message Posted: Mar 15, 2012 10:07:52 PM

Let's see...

1. Fuel prices rise

2. Everything that moves by plane, train, truck, or boat costs more to ship

3. Retail prices rise

4. Consumers spend more to buy the things they need

5. Hence, "Soaring gas prices fail to slow consumer spending"

DUH!
lesndave
Champion Author Texas

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Message Posted: Mar 15, 2012 9:38:28 PM

Great point dhdiesel
esq262
Champion Author Asheville

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Message Posted: Mar 15, 2012 9:28:16 PM

It has slowed my spending.
TomT2Lee
Champion Author Cincinnati

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Message Posted: Mar 15, 2012 9:18:38 PM

Why should consumers slow down, the federal government has not slowed down their deficit spending.
bwatchingu
Champion Author Arkansas

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Message Posted: Mar 15, 2012 8:08:25 PM

Slowed my spending
jjjleblanc
Champion Author Rochester

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Message Posted: Mar 15, 2012 8:07:25 PM

At least not yet.
dhdiesel
Veteran Author Riverside

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Message Posted: Mar 15, 2012 7:27:32 PM

Ya gotta keep in mind how the govt is reporting these numbers.

These are not units sold or number of sales, these are dollars spent. So, with inflation running at LEAST 6%, of course people are spending more (i.e. gas prices).

And don't believe the govt inflation number either because they EXCLUDE little things like, food, energy and fuel. In other words, if you don't eat, drive or heat your home, inflation is about 2.8%. Shazam!!

The WaPo is just another cheerleader trying to put a happy face on a serious situation. Expect to see more during this election year. (Remember how they talked-up the economy in election year '00? Their reporting on the economy was very incompetent or they were just flat-out lying by omission).
KAR120CSII
Champion Author Oregon

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Message Posted: Mar 15, 2012 7:17:39 PM

High energy prices, keep them shopping -- another way to keep the common folk subservient to Big Business and Big Government.
Jeff1944
Champion Author South Dakota

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Message Posted: Mar 15, 2012 7:14:40 PM

I find this article hard to believe.
PimpinFoDaGaz
Sophomore Author Massachusetts

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Message Posted: Mar 15, 2012 7:10:38 PM

Right, try grocery shopping! A 28oz jar of peanut butter (store brand) cost me $4.19 yesterday. Really? Time to cut back on the PBJ's and just ship my kid off to school with a Jelly sandwich. Don't want to be all posh, and upscale with PB in the lunch.
batloverNM
Champion Author Albuquerque

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Message Posted: Mar 15, 2012 6:11:03 PM

It has slowed the heck out of my spending!
humblepie
Champion Author Toledo

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Message Posted: Mar 15, 2012 5:28:58 PM

sure doesnt stop obama
playtimeCLE
Champion Author Cleveland

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Message Posted: Mar 15, 2012 5:27:07 PM

Some people have to spend how much they spend to get by. Some who have extra money are finding they have less extra money to spend.
johnnyg1200
Champion Author St. Louis

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Message Posted: Mar 15, 2012 4:54:26 PM

In 2006 / 2007 as gas prices started to go up it didn’t slow consumer spending. The effect of high energy prices don’t hit on the day they go up. It takes time to trickle through the economy. If prices stay up we will see the effect in about 8 to twelve months. Then either Obummer or his successor will get mangled in the poles along with his party.
Charley_7
Veteran Author New York

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Message Posted: Mar 15, 2012 4:53:42 PM

Just wait.
cdrrod
Champion Author Wisconsin

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Message Posted: Mar 15, 2012 4:06:25 PM

Yep, the prices are going up. We just surpassed the $4.00 mark in Kenosha WI - an all-time high!
Tigercat88
Champion Author North Carolina

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Message Posted: Mar 15, 2012 3:29:03 PM

Wait till all the bills come due.
gizbo123
Champion Author Los Angeles

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Message Posted: Mar 15, 2012 3:24:54 PM

Credit card spending don't ah count.
humblepie
Champion Author Toledo

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Message Posted: Mar 15, 2012 3:10:31 PM

certainly not obama's, but mine is cut plenty.
tnfran
Champion Author Arizona

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Message Posted: Mar 15, 2012 3:08:59 PM

It won't be long before the ---- hits the fan and then look out.
qwerty17
Champion Author New Jersey

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Message Posted: Mar 15, 2012 3:03:02 PM

just wait.
doggod
Champion Author Anchorage

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Message Posted: Mar 15, 2012 2:41:22 PM

Paid down a little slack on the credit cards, time to stuff them full again.

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