Lewis Diuguid

September 23, 2013

Ho-ho effect of drop in gas prices

Motorists are catching a break at the pumps in the Kansas City area as gas prices in the last couple of weeks nationwide have inched lower. People then can ride that wave into Christmas, where lower gas prices will add up to more disposable income enabling families to spend more on holiday gifts, which would help spur retail sales.

Motorists are catching a break at the pumps in the Kansas City area as gas prices in the last couple of weeks nationwide have inched lower.

They fell from close to $3.50 a gallon down to near $3.30 a gallon in the Kansas City area. Industry analysts expect the price at the pump to drop to about $3 a gallon, which car owners haven’t seen in about three years.

Credit the drop in crude oil for the bonus to motorists. More stability in the Syrian crisis also has eased the energy price rise.

Oil companies — for now — have passed on the benefits to drivers. Let’s hope that holds for the next three months.

People then can ride that wave into Christmas, where lower gas prices will add up to more disposable income enabling families to spend more on holiday gifts, which would help spur retail sales.

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