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” Patrick De Haan - 2 De Haan - 2 ” - 1 Donghoon Lee - 1 “ - 1 TransUnion - 1 TrasnUnion - 1 Charlie Wise - 1
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☆ American Consumers Are Running Up Their Credit Cards. But They May Have a Little Left in the Tank to Spend
  + stars: | 2023-11-09 | by ( Tim Smart | Nov. | At P.M. | ) www.usnews.com   time to read: +8 min
“So many more people have credit cards now.”Wise says the main thing to watch for is how strapped consumers are in their overall financial condition. There are signs the consumer may still have a little left in the tank. And speaking of tanks, gas prices have been coming down, a move that will free up a little more money for consumers to spend. And this occurred while consumers repeatedly tell surveys they are feeling gloomy and pessimistic about the state of the economy. The pace of increase in consumer prices has fallen from around 9% annually in the summer of 2022 to under 4% now.
Persons: ”, Donghoon Lee, “, TransUnion, TrasnUnion, Charlie Wise, ” Wise, we’ve, ” Patrick De Haan, De Haan, Lisa Sturtevant, Goldman Sachs, Jan Hatzius, Joseph Brusuelas, Tuan Nyugen Organizations: Federal Reserve Bank of New York, New York Fed, TransUnion, “, MLS, Federal, ” Goldman, Adobe Locations: U.S, California
☆ Oil Prices Hold Near $90 a Barrel on Saudi, Russian Production Cuts
  + stars: | 2023-09-06 | by ( Tim Smart | Sept. | At A.M. | ) www.usnews.com   time to read: +3 min
Global oil prices backed off the $90 a barrel mark early Wednesday as traders digested the news that Saudi Arabia and Russia would extend their summer production cuts until December. The move is likely to keep U.S. gas prices higher for longer. Many nations joined in putting sanctions on Russian oil when President Vladimir Putin invaded Ukraine in February 2022. But large oil consumers such as China and India continue to buy Russian oil. Rising oil prices will also be a concern for the Federal Reserve as its campaign to tame inflation is finally bearing fruit.
Persons: ” Patrick De Haan, Hurricane Idalia, De Haan, Vladimir Putin Organizations: Labor, Gas, Hurricane, Federal Reserve Locations: Saudi Arabia, Russia, “, ”, China, Ukraine, India, Germany
☆ $4 gas could return as soon as May, GasBuddy projects
  + stars: | 2022-12-27 | by ( Matt Egan | ) edition.cnn.com   time to read: +5 min
New York CNN Business —Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN. Why gas prices are droppingIn December 2021, before Russia amassed troops at Ukraine’s border, GasBuddy projected the national average for gas would be $3.41 a gallon in 2022. The national average is now about 20 cents below the same period of a year ago, according to AAA. Gas prices are not expected to return to $5 this summer – although GasBuddy isn’t ruling that out.
☆ US gas prices are now cheaper than they were a year ago
  + stars: | 2022-12-08 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +2 min
London CNN Business —US gasoline prices are now cheaper than they were one year ago, providing relief to Americans that have spent 2022 grappling with the worst inflation in decades. Gas prices peaked just above $5 a gallon in June, hitting a record high. Average US prices have dropped by 14 cents over the past week and 47 cents over the past month. But so far, oil prices have continued their descent. Concerns about the economic impact of those restrictions have been a key reason oil prices have dropped in recent months.
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