The average Jane and John has a few more dollars to spend
Posted By RichC on December 29, 2014
As the year draws to a close, we can be thankful for economic boost coming from cheaper gasoline. The chart above show just how rapid the decline in the price of Crude Oil changed. It illustrates the unbelievable shift in the cost of energy for all of us. It is partially due to demand, but primarily due to the excess supply of oil and is a catalyst that could stimulate our sluggish economy.
The precipitous decline has giving the average U.S. consumer an income boost even bigger than what a tax cut could since it impacts even those who do not even pay income taxes (or are in a low tax bracket). It has been repeated across the financial networks that this $40/barrel drop has giving families in America and extra $1000 per year to use for something other than fuel … a true boost to our consumer driven economy.
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