Some economists estimate that for every one-cent increase in the price of gas, spending in other areas will decline by one billion dollars. Wal-Mart estimates that higher gasoline prices take away 7 per week from an average family budget.
More Quotes from Lars Perner:
Maybe in a tight market when interest rates go up people may not be able to afford as much. You may be stuck with a house a bit more than the market might demand at the time.Lars Perner
At the local level you really can't do anything about gas prices, ... The prices are set at both the national and international level. The prices are set by supply and demand.
Lars Perner
You get a certain benefit from getting a bargain, over and above the financial benefit there's a psychological benefit. There are a variety of reasons why people may feel that -- one is the thrill of beating the system. Another is demonstrating the skill of being able to find good bargains.
Lars Perner
A lot of people are in denial. They are expecting it to come down. They think the price is related to the U.S. invasion of Iraq, and that the price will fall eventually. But it's a lot more complex than that.
Lars Perner
We don't like the government to tell us what to do.
Lars Perner
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