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Politics : PRESIDENT GEORGE W. BUSH
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To: PROLIFE who wrote (562732)4/10/2004 12:54:11 AM
From: puborectalis  Read Replies (4) of 769670
 
Every penny increase in the price of gasoline sops up at least $1 billion in annual consumer spending -- money that could have been spent on other things. So far, the average price of gasoline is up around 28 cents per gallon nationwide this year.

Higher prices at the pump have already drained more than $20 billion of the $40 billion tax refund being counted on to spur consumer spending this year, says David Rosenberg, Merrill Lynch chief economist for North America.

Gasoline prices are very likely to go higher before they go lower. Look for the worst prices during the peak-driving season, from Memorial Day to the Fourth of July.
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