US Consumers Cut Back as Iran War Pushes Gas Toward $4.50
Updated
Updated · Joplin Globe · Jun 8
US Consumers Cut Back as Iran War Pushes Gas Toward $4.50
3 articles · Updated · Joplin Globe · Jun 8
Summary
$4.50-a-gallon gas is reshaping U.S. shopping habits, with consumers still spending but trimming purchases and changing where they buy.
Costco and Sam's Club are drawing more drivers, yet many are leaving without filling their tanks, a sign households are rationing fuel rather than stopping purchases outright.
Foot traffic has fallen at clothing and electronics stores, while Walmart, McDonald's and Dollar General say lower-income customers are making noticeable cutbacks.
Economists and retail analysts expect the pullback to widen if higher fuel, food and other prices from the Iran war keep building across household budgets.