NEW YORK (CNN) – More than half of the nation’s gas stations are now selling gas below two dollars per gallon. That’s per the oil price information service, which found gas below two bucks at 52 percent of stations.
That’s good news for consumers. But numbers released Wednesday showed a slightly mixed picture as to whether more money in their wallets, is more incentive to spend.
The national retail federation said shoppers spent 616.1 billion dollars during November and December, the biggest growth since 2011 and an increase of four percent, but falling just short of the industry group’s forecast of four-point-one percent.
Meanwhile the commerce department said retail sales fell point-nine percent in December, the largest decline since last January, somewhat out of line with economists’ expectations of consumer confidence with a backdrop of stronger labor growth and those low gas prices.
Consumers looking to put some of the money saved on the roads, into the skies should not expect to see the price of a plane ticket fall dramatically. While even the smallest decreases in fuel prices can save airlines millions, they’ve been on a roll, posting bigger profits and filling seats, so demand will keep fares, in the air.