Gas Prices Rise Again, And Again

The nation’s average price of gasoline has risen $.051 over the last week. It stands at $4.48 per gallon, GasBuddy says, based on data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is up 37.3 cents from a month ago and is $1.40 per gallon higher than a year ago.

The news is horrible for GDP. Consumer spending is two-thirds of it, as households spend more on gas, the ability to spend on other things drops, particularly for low-income families.