GAS PRICES: Above $6 a gallon in California; $4.28 a gallon in Alabama, which is a new record high as of Wednesday. gasprices alabamanewsnetwork
"No wonder that the Consumer Sentiment Index is so depressed," Yardeni noted.
But there are signs that consumers' budgets are struggling to handle record gas prices and high inflation. Consumers"are charging more on their credit cards," Yardeni pointed out.from Northwestern Mutual. Its survey found that 6 in 10 people built up personal savings during the past two years, with the average household reporting savings of $73,000 in 2021. But that's dropped 15% to $63,000 in 2022, the study found.
The recent surge in gas prices is due to factors including volatile crude oil prices, Russia's war in Ukraine and increased demand from consumers as the economy recovers from the pandemic. The benchmark Brent crude oil is trading at almost $110 per barrel on Wednesday, compared with $67 a barrel a year earlier.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California gas prices hit $6 a gallon average; new record highGas prices in California hit a new average record of $6.02 a gallon, and they’re set to go even higher on July 1st when California’s gas tax increases again.
Read more »
California's Gas Average Tops $6 Per Gallon as Prices Across the U.S. SurgeCalifornia’s state average for a gallon of gas hit a record above $6.
Read more »
Gas prices will surpass $6 nationwide by August, JPMorgan saysJPMorgan analysts warned in a research note Tuesday that prices could surge another 37% by August, reaching a national average of $6.20 per gallon.
Read more »
Allianz unit to pay $6 billion over 'massive' investor fraudBus drivers, subway conductors and religious and charitable organizations nationwide were among the victims, authorities say.
Read more »
Allianz unit pleads guilty to fraud, agrees to pay $6 billion in fines and restitutionBus drivers, subway conductors and religious and charitable organizations nationwide lost over $5 billion when a COVID-induced stock market collapse crushed...
Read more »
Arizona Gives Day 2022 raises more than $6 million for nonprofitsArizona Gives Day generated more than $6 million for nearly 1,000 nonprofits in the state.
Read more »