Gasoline and Retail Sales

Yes, our society is excessively dependent on gasoline.  Yes, we know that gas prices are rising.  Yes, we know it’s a dwindling resource.  But sometimes it’s easy to forget just how much gasoline consumption comprises the makeup of American purchases.

During the month of March, ten percent of the total retail sales in the United States were conducted at gasoline stations.  Gasoline with a side of coffee and cigarettes and trail-mix seems to be a typical order for the modern consumer, as gasoline stations have become the sight of major sales.   During the month of March, sales at gasoline stations jumped 2.6 percent.

While people were still paying a lot to make their cars run, the motor vehicle sales fell 1.7 percent.

In general, retail sales rose 0.4 percent, slightly below private-sector expectations.  Retail and food services sales, excluding autos, were up 0.8 percent, consistent with private-sector expectations.

Secretary Gary Locke suggests that the strain of higher gas prices is making other businesses suffer.

“Two years after the worst recession in generations, our economy is strengthening and businesses are hiring again; today’s numbers are another sign of continued growth,” U.S. Commerce Secretary Gary Locke said. “But many American families and businesses are now facing an additional burden because of rising gas prices. This underlines our vulnerability to fluctuating oil markets and the need to improve domestic energy production and transition to a clean energy economy.”