Gas Prices, Holiday Spending Down

By: Chelsey Moran
By: Chelsey Moran

Topeka, Kan. (WIBW) - The average price of gasoline has fallen 20 cents a gallon to $3.22 but consumers say that many people say the high gas prices have caused them to cut back on holiday spending.

"Some reports have been a bit too gleeful but we're not expecting any dancing in the streets," says Patrick DeHaan, Senior Petroleum Analyst for GasBuddy.com. "Even with the seasonal price decline, 2012 is going to yield the highest aver price ever paid-January through December- at $3.63 a gallon."

43% of consumers said gas and transportation costs forced them to spend less during the holiday season, 51% said they are not impacted by that and 5% said they were not sure, according to a survey on GasBuddy.

32% said they are spending less than in previous years, 51% are spending about the same, 9% said they are spending more this holiday season and 7% said they weren't spending any money on the season at all.


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