Pump prices for a regular gallon of gas have taken a big fall in recent days and weeks, hitting an average of $2.30 this past weekend in Massachusetts, far below even the most optimistic recent projections of possible price declines, according to new AAA Southern New England data.
In August, gas prices were hovering in the $3.05 range.
Sara Johnson, an economist at Lexington’s Global Insight, a research firm, said falling fuel prices could “strengthen households’ purchasing power,” as well as encourage people to drive more to restaurants and shops.
The extra spending will help offset housing woes - but not completely, she said.
Let's say this "average family" drives a lot, and spends $200 on gas a month. How much money are they saving?
A whole whoppin' $50 a month. That's $600 a year.
Yessirree, bob! That's definitely going to save the housing market.
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