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If Gas Prices Go Any Higher, They’re Going To Start Eating Away At Growth


US fuel prices continue to rise. August NYMEX gasoline futures price cleared $3 a couple of days ago and is now at the highest level for 2013.

This introduces two new challenges for the US economy:

1. Fuel prices tend to influence consumer sentiment and spending. The sentiment is not necessarily linked to how much consumers actually spend on fuel.

Rather, it’s connected to the psychology of seeing a sudden spike in this index that most Americans see on a daily basis.

And improvements in US consumer sentiment have already stalled recently.

Read more: http://soberlook.com/2013/07/watch-those-futures-prices.html#ixzz2YvoC3RGg

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  • Bwhhaaa hhaaa hhaaaa

    Sorry, but there’s no economic “growth” in this country anymore, except in certain industries, such as gun and ammo makers, aerial drone and armored vehicle manufacturers, private prisons, etc.. Soon, it won’t matter what the gas prices are, because most everyone will be unemployed and unable to purchase it at any price, as are several million people already. Welcome to the New World Order, where you will be walking and not driving to the concentration camp.