DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Oil prices fall as Libyan revolution expected to increase oil supplies

**Alexeryy** · 08-22-2011, 09:55 AM

Interesting statistic: Every cent in the change of gas prices translates into $1 billion in U.S. consumer spending impact, according to widely-quoted analyst figures.

That is, when gas prices rise by a penny, the U.S. economy typically loses $1 billion in consumer spending from other areas. With gas prices continuing to drop based on lower demand and expected to continue to drop further once Iraqi and now Libyan fields claw their way back to full capacity, we could see some very powerful stimulus flowing into the economy over coming months.

08-22-2011, 09:55 AM	#2
Alexeryy Join Date Oct 2005 Posts 504 Senior Member	Interesting statistic: Every cent in the change of gas prices translates into $1 billion in U.S. consumer spending impact, according to widely-quoted analyst figures. That is, when gas prices rise by a penny, the U.S. economy typically loses $1 billion in consumer spending from other areas. With gas prices continuing to drop based on lower demand and expected to continue to drop further once Iraqi and now Libyan fields claw their way back to full capacity, we could see some very powerful stimulus flowing into the economy over coming months.
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