"Rising fuel costs hit drivers' wallets hard and drain money away from retail aisles. No matter what the official statistics may say, or may be massaged to say, everything just feels more expensive."
"Once gas crosses a certain threshold at the pump, you see a broad pullback as people delay big-ticket purchases and cut back on 'nice-to-have' items, even if they still make the essential trips."
"Any discussion of economic impact has to acknowledge the context of a bifurcated economy, which you may call K-shaped or barbell-shaped."
The conflict among the U.S., Israel, and Iran is causing fuel prices in the U.S. to rise by about 30%, nearing $4 per gallon. This increase is expected to affect the retail industry as consumers prioritize fuel and necessities over discretionary purchases. Economic experts warn that prolonged conflict will exacerbate these issues, especially during the summer travel season. Consumers are already seeking savings, and rising fuel costs are significantly impacting their spending behavior, leading to a pullback on larger purchases.
Read at Digiday
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