Consumer sentiment ticked down a pinch, current conditions took a hit (gas pump economics).
About one-third of consumers spontaneously mentioned gasoline prices and about 30% mentioned tariffs. Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump. Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall.
Speaking of inflation:
current reading still substantially exceeds the 3.4% reading seen in February prior to the start of the Iran war,
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Differentiation isn’t about being objectively different from everything.
> It’s about being distinct in your comparison set.
> Or, in other words, when the world zigs, zag³.
Everyone’s saying it!
via Nudge
Only a $0.258 increase in gas prices since this time last week, slipping in under the back-to-back $0.30 mark.
Fun with extrapolation: at this rate we’re looking at $5.00 / gallon gas prices in time for Memorial Day weekend.
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On 4/30, AAA posted this headline: Oil Prices Spike, National Average Up Nearly 30 Cents in One Week
The national average (for regular) was then pegged at $4.300.
Today (5/4), the national average is $4.457. This headline might get recycled this week.
This is Ozempic for wallets.
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When people get stuck in your purchase / sales journey, what’s the question they can’t find an answer for? 📍
Fill your tank, empty your wallet.
AAA’s fuel price tracker shows as of today, average national price per gallon is:
- 5 cents higher than yesterday
- 20 cents higher than a week ago
- More than 1 dollar higher than a year ago
In March, Bank of America was already reporting:
spending at the pump surging 16.5% month-over-month
Gas pump economics: the more money is pumped into tanks, the less disposable income is left for discretionary and status purchases.