[lbo-talk] Gas prices 2nd highest level ever

Doug Henwood dhenwood at panix.com
Wed Mar 16 07:26:12 PST 2005


B. wrote:


>Govt: Gas prices 2nd highest level ever:
>
>http://story.news.yahoo.com/news?tmpl=story&u=/nm/energy_gasoline_price_dc
>
>Good thing? Bad thing? "A little bit o' both"?

Good if it discourages consumption. Bad if it screws the working class.

Last year, Wal-Mart was saying that high gas prices were costing their average customer $7 a week, which was enough to depress sales noticeably. For most of last year and the first two months of this year, Wal-Mart sales growth has lagged the retail average - and that gas pinch has something to do with it.

Doug



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