Lower gas prices may not spur holiday spending

Posted on: 7:13 pm, December 19, 2012, by , updated on: 07:18pm, December 19, 2012

RICHMOND, Va. (WTVR) – Lower gas prices may not necessarily equate to increased spending for the holidays. According to GasBuddy.com, the average price of gasoline fell 20 cents per gallon in the past month. However, some drivers said the drop was not enough to impact their holiday spending.

Forty-three percent of consumers said the price of gas has caused them to spend less this holiday season. Meanwhile a little more than a half of all drivers surveyed said it’s not impacting their shopping at all.

And 5 percent said say they were not sure if the price of gas impacted their shopping.