REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Higher gas prices hit consumers where it hurts

Gas pumpWhat does the price of a gallon of gas have to do with real estate?  Retailers can answer.  Here’s a fun fact – every penny increase in a gallon of gasoline costs consumers $1 billion over a one-year period, according to economist Mark Zandi of Moody’s Economy.com.  

As of Monday, the national average price of gasoline rose to $2.749, according to the survey conducted by auto club AAA, Wright Express and Oil Price Information Service.  With gasoline prices up nearly $1 a gallon in the past year, it has cost consumers an extra $100 billion.  Read Mark Williams’ Associated Press release in Pump Prices Near $3 A Gallon, posted by KSAT12 (1-10-2010).

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1 comment to Higher gas prices hit consumers where it hurts

  • Hi Kim,

    I found your blog to be very interesting with the way you referenced gas prices to real estate. We work with commercial brokers nationwide and use similar analogies. As you and I know, this is a buyers market and tenants will squabble over pennies a Sq ft. It seems as though everything is going up in price and everyone is looking to save a penny anywhere they can. Great analogy!!

    Keep on bloggin!

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