Lower gasoline prices could aid holiday sales
The Associated Press reports that the drop in gasoline prices may translate into more consumer holiday purchases.
Their piece, citing AAA figures, notes that average pump prices have fallen a half-dollar from their 2013 peak to $3.29 per gallon.
“Because many Americans have had no pay raises, whatever money they’re saving on gas has freed up a bit more for other purchases,” AP reports.
“And history shows that when gas prices drop, consumers become more likely to splurge on dinners out. Impulse buys at the mall seem like less of a stretch. More people buy a gas-station gift card after fueling up.”
— This post was updated at 12:06 p.m.
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