Gas prices remain higher than year-ago levels.But still it appears that many American drivers won't spend more on gas; they'll just stay at home or find other ways of moving around.
Americans' spending on gasoline fell by 2.7 percent in the week ending September 9. And that includes the holiday weekends, and that's based on the quantity of gasoline purchased.
Pump prices were down by penny nationally but that included slight price hikes of a cent or two throughout much of the Rocky Mountain states and West Coast. Anyways, the average of national prices remain 94 cents higher per gallon ($3.66 for regular grade) than a year ago.
many American households are finding themselves poorer this year—even compared to a couple of years ago, during the 'official' recession. Median U.S. household income has dropped 6.4 percent since December 2007—when the recession began—and income has fallen most (as a percentage) for lower-income households; even after adjusting for inflation, those making $20,000 or less saw income drop 3.8 percent in 2010.
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