Are Rising Gas Prices Hurting Consumer Confidence? - Real Time Insight
06 Febrero 2013 - 8:26AM
Zacks
Gas prices have been rising over the past few weeks. National
average for gasoline price is now ~$3.54 a gallon, up 18 cents from
a week back (biggest weekly spike in two years).
Last year, average US households paid about 4% of income before
taxes for gasoline, highest percentage in three decades (except
2008--when it was at a similar level).
Gasoline prices are affected by rising crude prices and
disruptions in gasoline supply. Oil prices have gone up more than
10% in the last two months as global economy recovers. On the other
hand, gasoline supply has been hurt by the disruptions caused in
the Northeast by Superstorm Sandy and closures of some
refineries.
Rising gas prices may not have yet hurt the economic recovery
but if they continue to rise, they may pose potentially serious
threat to consumer spending and economic recovery in the months
ahead. (Read: Pump Profits with this Gasoline ETF)
Do you think that gas prices have already started hurting
consumer confidence?
SPDR-SP 500 TR (SPY): ETF Research Reports
US GAS FUND LP (UGA): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
United States Gasoline (AMEX:UGA)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
United States Gasoline (AMEX:UGA)
Gráfica de Acción Histórica
De May 2023 a May 2024