The Phaserl


What the Heck Has Suddenly Hit American Consumers?

from Wolf Street:

Without a lot of fanfare, average gasoline prices bottomed at the end of January and have been rising steadily ever since. They’re still a lot lower than they were a year ago, from $0.89 per gallon lower on the West Coast to $1.24 lower in New England, according to the EIA. But the turnaround has been swift.

Numbers vary, depending on who is doing the counting. According to the AAA’s Daily Fuel Gauge Report, the average price for regular hit $2.312 today, up 1.1 cents from yesterday, and up 27.5 cents from a month ago. That’s a jump of 13.5%. But it isn’t evenly spread across the nation: the EIA found that gas prices in New York rose only 5% from the bottom; in Ohio, they soared 24%.

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4 comments to What the Heck Has Suddenly Hit American Consumers?

  • C.i.

    Gas Stations Have Falling Revenue Per Gallon. Business Costs Per Hour Remain The Same And Going Up.

    Do The Math.

    Many Will Close If They Are Franchise.


  • nycjeff

    Yesterday Delek (DK) announced pretty strong retail store sales on both a fuel volumes, fuel margins, and merchandise volumes, for what its worth.

  • anon

    Disconnect Between Productivity and Typical Workers’ Compensation (1973-2013): While Productivity Went Up 243.1%, Hourly Compensation Only Rose 108.9%

    Source: Wage Stagnation in Nine Charts [Economic Policy Institute]

    • anon

      Or, put another way: “From 1973 to 2013, hourly compensation of a typical (production/nonsupervisory) worker rose just 9 percent while productivity increased 74 percent. This breakdown of pay growth has been especially evident in the last decade, affecting both college- and non-college-educated workers as well as blue- and white-collar workers. This means that workers have been producing far more than they receive in their paychecks and benefit packages from their employers.”

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