Higher Gas Prices Won't Slow Most Holiday Shoppers
LOS ANGELES (AP) — Many Americans are determined not to let higher gas be the Grinch that spoils their holiday spending plans.
Gas prices on average have risen about 17 cents since Labor Day to $2.86 per gallon because of rising oil prices. By one analyst's estimate, that means Americans are spending around $68 million more on gas each day than in early September.
While that sounds like a threat to sales of Barbie Video Girl dolls, the increase amounts to $3 or $4 extra to fill up a car, a bit more for an SUV or a pick-up. Many motorists absorb the cost increases by skipping the gourmet coffee or just driving.
The good news for drivers? Gas prices are already falling because oil prices dropped over the 10 days.
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