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GasBuddy News Article

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Higher gas costs push consumer spending up

herald-dispatch -- WASHINGTON -- Americans boosted their spending in August even though their income barely grew. Much of the spending increase went to pay higher gas prices, which may have forced consumers to cut back elsewhere.

The Commerce Department said Friday that consumer spending rose 0.5 percent in August from July. It was the biggest jump since February.

Gas prices rose nearly 50 cents per gallon in July and August, but have since leveled off. Excluding the impact of higher gas prices and other price gains, spending ticked up only 0.1 percent last month.

Income grew only 0.1 percent, too. But after accounting for inflation and deducting taxes, income actually fell 0.3 percent -- the poorest performance since November.

The increase in prices and slower growth in pay forced people to


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Submitted Sep 29, 2012 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Oct 8, 2012 4:47:04 AM

crm: indeed, indeed.
crmedic
Champion Author Arkansas

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Message Posted: Oct 7, 2012 5:09:19 PM

Politics as usual
honda0105
Champion Author Tallahassee

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Message Posted: Oct 7, 2012 7:12:01 AM

Pig Oil's greed at its best.
wild3bill
Champion Author New York

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Message Posted: Sep 30, 2012 9:56:00 AM

The news that spending was up caused the Big Oil Monopoly to raise gasoline preices! AND THEN the accountants announced all the increase went into paying for higher petroleum prices. All the penny prices drops we say after the Labor Day gouge got reversed TODAY!The economy is in a tailspin. Bad news that people are spending too much on gasoline was taken as good news an excuse to raise prices by the Big Oil Monopoly : and the poor get poorer.Consumer spending will go up again but employment and pay DID NOT.Things will go from bad to where all Hell breaks loose like 2008.False propeganda or rumor is used as anexcuse to rape the economy one more time!
johton
Champion Author Seattle

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Message Posted: Sep 30, 2012 9:55:22 AM

that's a no brainer.
jim27106
Champion Author North Carolina

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Message Posted: Sep 30, 2012 12:17:31 AM

We have to spend more on gas, but the child support people expect us to continue to pay the same amount for our kids.
Blue48
Champion Author Illinois

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Message Posted: Sep 29, 2012 11:41:01 PM

BUMMER!
Aviator_Rob
Champion Author New York

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Message Posted: Sep 29, 2012 11:23:59 PM

What exactly does a "truly competitive car market" look line, @driveonby1?

Is that one where GM and Chrysler go under, taking one million jobs with them? Do you think Americans will then flock to Ford because it would be the last U.S. automaker or would they just buy more cars and trucks from Toyota and maybe Honda?
Aviator_Rob
Champion Author New York

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Message Posted: Sep 29, 2012 11:20:22 PM

For the record, @suzmar, quantitative easing is what's keeping the home mortgage interest rate at record lows. Without that, you'd see way more foreclosures on your block and that wouldn't do wonders for the price of your home.
Focus2
Champion Author Illinois

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Message Posted: Sep 29, 2012 11:14:03 PM

Its too bad when one commodity we are locked in on steals the money from all others.
rahcat
Champion Author Grand Rapids

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Message Posted: Sep 29, 2012 11:12:59 PM

Need deeper pockets.
phinsup67
Champion Author North Carolina

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Message Posted: Sep 29, 2012 11:04:15 PM

It's getting painful.
PizzaMon
Champion Author Philadelphia

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Message Posted: Sep 29, 2012 10:59:39 PM

Elementary.
mcmonsta
Champion Author Honolulu

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Message Posted: Sep 29, 2012 10:56:38 PM

higher gas prices filter and always makes consumers pay more...sooner or later
dgracing318
Champion Author Georgia

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Message Posted: Sep 29, 2012 10:56:31 PM

DUH! who in the hell didnt already know this. I spend $100 per week to fill both of our vehicles where it used to take $60. I love my change anybody want whats left?
CCLighthouse
Champion Author Hartford

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Message Posted: Sep 29, 2012 10:55:44 PM

I don't think this is the "good sign of the economy growing" we're looking for.
tidalwave3
Champion Author Tallahassee

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Message Posted: Sep 29, 2012 10:55:25 PM

There is only so much $$$ for consumer
Holly123
Champion Author Charlotte

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Message Posted: Sep 29, 2012 10:50:13 PM

Something's gotta give!
SparkieMi
Champion Author Kalamazoo

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Message Posted: Sep 29, 2012 10:50:08 PM

Thanks to greed.......
30mpg80
Champion Author Lexington

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Message Posted: Sep 29, 2012 10:48:58 PM

Gee, ya think so?
Is246
Champion Author Albuquerque

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Message Posted: Sep 29, 2012 10:45:56 PM

cutbacks everywhere will hppen.
abacus44
Champion Author Toms River

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Message Posted: Sep 29, 2012 10:45:19 PM

In other words, Inflation.
tutaw
Champion Author Kentucky

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Message Posted: Sep 29, 2012 10:43:33 PM

yup
TNT2EC
Champion Author Wisconsin

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Message Posted: Sep 29, 2012 10:43:13 PM

Thanks greedy speculators
suzmar
Champion Author Texas

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Message Posted: Sep 29, 2012 10:42:03 PM

The government needs to stay out of the way, it is largely due to their interference that we have high gasoline prices. Every time the fed devalues the dollar by their quantitative easing it pushes the cost of energy up.
pgerassi
Champion Author Milwaukee

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Message Posted: Sep 29, 2012 10:42:00 PM

DUH!
big_mac64
Champion Author Tennessee

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Message Posted: Sep 29, 2012 10:41:50 PM

I cut back on driving to ease the pain at the pump...not stuff I need to live!
Shakleelady31
All-Star Author Fort Wayne

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Message Posted: Sep 29, 2012 10:37:49 PM

Well, yeah!
g747
Champion Author Mobile

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Message Posted: Sep 29, 2012 10:36:28 PM

We are still getting clobbered @ the pumps!!!!!!!!!!!.
driveonby1
Champion Author Toledo

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Message Posted: Sep 29, 2012 10:34:07 PM

Duh. If we had a truly competitive car market, we wouldn't have wasted money and time with electric cars and failed big two makers, and would likely have more natural gas vehicles and more wells dug by now.
wayoung56
Champion Author Alabama

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Message Posted: Sep 29, 2012 10:33:35 PM

I didn't need any dweebs in the Commerce Department to tell me that...
Azimuthal
Rookie Author Hamilton

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Message Posted: Sep 29, 2012 10:29:29 PM

What do you expect???
waynemustang
Champion Author Indiana

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Message Posted: Sep 29, 2012 10:19:51 PM

Get more domestic oil to help consumer spending.
darkknight1
Champion Author Winston-Salem

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Message Posted: Sep 29, 2012 10:15:51 PM

no surprise to any of us.
netman044
Champion Author Texas

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Message Posted: Sep 29, 2012 10:14:29 PM

Brilliant statement
bkplenge
Champion Author Tallahassee

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Message Posted: Sep 29, 2012 10:13:47 PM

Are the "experts" actually starting to figure this out?
blazerbob91
Champion Author Milwaukee

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Message Posted: Sep 29, 2012 10:10:11 PM

$4 gas will kill any recovery
woodeye55
Champion Author Gary

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Message Posted: Sep 29, 2012 10:09:15 PM

...and people REALLY want 4 more years of this?
CAroadrunner101
Champion Author California

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Message Posted: Sep 29, 2012 10:08:08 PM

whatever...
rf6480
Champion Author Miami

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Message Posted: Sep 29, 2012 10:06:48 PM

can't spend what I don't have
CISA
Champion Author Orange County

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Message Posted: Sep 29, 2012 10:05:37 PM

next
SpankyMI
Champion Author Kalamazoo

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Message Posted: Sep 29, 2012 10:04:53 PM

No doubt, good thing it is not figured into the cost of living.
mrbee
Champion Author Little Rock

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Message Posted: Sep 29, 2012 10:04:45 PM

Definately spending more.
drobbbb
Champion Author Maryland

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Message Posted: Sep 29, 2012 10:03:01 PM

no question about that
Alfied
Champion Author Riverside

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Message Posted: Sep 29, 2012 10:01:57 PM

Up and down, up and down, makes the world go around.
gsayeg1
Champion Author Milwaukee

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Message Posted: Sep 29, 2012 9:59:09 PM

wait till next week - big ouch coming
bevmill
Champion Author Georgia

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Message Posted: Sep 29, 2012 9:57:14 PM

If consumer spending is up, it's because of the high price of gas.
A2J
Champion Author Richmond

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Message Posted: Sep 29, 2012 9:56:23 PM

me too
Goofoff
Champion Author Virginia

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Message Posted: Sep 29, 2012 9:51:19 PM

Dah
jim48656
All-Star Author Michigan

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Message Posted: Sep 29, 2012 9:49:54 PM

The person that wrote this must be a genius. How in the world did he or she ever figure this out?
Crumbfel
Champion Author Virginia

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Message Posted: Sep 29, 2012 9:46:31 PM

Correct
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