Alison Chaltas

Gas Price Drop a Good Sign for Summer Months

May 25, 2011

FROM RETAILWIRE:
Memorial Day is approaching and that typically means gas prices have spiked at pumps across the nation. That would be true in a typical year, but 2011 is anything but, and prices have come down in recent weeks. Do you expect consumers to respond positively to lower prices at the pump although the cost of filling up is still much higher than last year at this point?      [more...]

"Lower" gas prices is certainly a relative statement. Anything over $3 a gallon makes a big impact on driving behavior. Staycations are sure to be the norm this summer and shopping trips will continue to be fewer, closer to home. Convenience retailers will have to get very creative to battle the sticker shock at the pump and get shoppers in the door to pick up refreshments after spending $50-$100 on a tank of gas.

Bottom line: This will be a tricky summer for those dependent on traveler spending.