Will Low Gas Prices Help the Holiday Shopping Season
I stopped to get gas yesterday because my tank was on empty and guess how much it cost me to fill 'er up? 29 buckeroos. Let me repeat that, twenty-nine whole dollars for mid-grade gas, too.
This time last year, it cost me almost twice that, I believe.
I gotta confess, it made me smile... not because I envision driving more or going back to my gas guzzling days. But only because I didn't think I'd see prices going below $2 a gallon anytime this year or anytime in the near future.
AAA MidAtlantic's Weekend Gas Watch says "wholesale prices for gas are so low in some part s of the country that retail pump prices have dipped to as low as $1.75 a gallon." As you can see, it's dropped even lower in Missouri.
While I hope that lowered gas prices won't make people think they should go out and buy SUVs again, I do wonder if this reprieve in energy expenses will help boost what is expected to be a grim holiday shopping season this year?
For me, I doubt low gas prices will make me spend more on gifts this season. There's too much uncertainty out there. I don't know how long gas prices will stay low, so if I blow my wad on the holidays and rack up a lot of debt, and then gas prices go back up, I'll feel like a jerk for not thinking ahead. And really, do you think you'll save enough on gas to go blow a lot of money on presents this year?
What's the thought out there? Will low gas prices help the holiday shopping season or will it have no effect at all?
(Getty Images)
Categories: Economy, Gas prices, Holiday shopping, Shopping
Comments
I honestly think that the continuing decline of the price of gas will help with transportation expenses will go down a bit. However, in terms of spending habits, the people anywhere in the world is still feeling the impact and the effects of the economic downturn.
DD: Agreed, Alma. Cheaper gas does not make me want to spend more, either. It just makes me happy I'm saving money some where.
Posted by: Alma | November 17, 2008 5:42 PM