Markets and Economy

How Falling Gas Prices Fuel US Consumers

In 2015, the US government projected that American households would save an average of $700 on gasoline. But which groups have felt the biggest increase in spending power? How much of that extra money do consumers spend, and what do they spend it on?
JPMorgan Chase Institute
July 7, 2016

The JPMorgan Chase Institute analyzed data from 57 million anonymized Chase debit and credit card customers to find out who’s most impacted by the declining cost of gas and how spending patterns have changed as a result of lower gas prices.

This data illuminated the effects that falling gas prices had on consumers across the US and uncovered several significant findings, including:

 

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