Shop Talk

Retailers, consumers and prices

Check Out Line: Taking the pressure out of the pump

August 25, 2008

pump.jpgCheck out the falling gasoline prices.
The average U.S. price for regular unleaded gasoline fell to $3.70 on Aug. 22, down about 15 cents from two weeks ago. The price was also down 41.6 cents from the record higher $4.112 in July.
Soaring gasoline prices have been one factor that has kept consumers from going out to restaurants or spending on discretionary items like new clothes.
So if gas prices continue to fall, it could ease pressure on consumers and help retailers.
Trilby Lundberg, editor of the Lundberg survey that monitors gas prices, said if crude oil prices don’t move back up, gasoline prices would probably fall further.
That would just leave tighter credit, falling home values and higher food prices as factors that are stopping consumers from spending.
Also in the basket:
‘Beverly Hills, 90210′ products to launch (WWD, subscription required)
A home network where your TV talks to your fridge (N.Y. Times)

(Photo: Reuters)

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