Consumers have been spending more on gasoline than they have in nearly three decades.
With pump prices at their highest level on record for this time of year, the stage is set for an even greater climb in gasoline prices and expenditures than in 2012. Retail gasoline prices have surged 17 cents in a week to top $3.50 a gallon on average, posting the highest prices on record for the beginning of February.
According to AAA, the national average price of regular gasoline is $3.52 a gallon, 4 cents higher than the average price a year ago. The average price was $3.35 a gallon a week ago and $3.30 a gallon a month ago.
Meanwhile, the U.S. Energy Information Administration reported Monday that gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4 percent of income before taxes. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount. Gasoline prices averaged $3.63 a gallon in 2012, according to EIA.
Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures, according to the EIA. – CNBC
So this leaves me to question, Why the recent surge in prices at the pump? Analysts say the price rise for diesel and home heating oil are also due to refinery issues around the country. I don’t buy that excuse for one minute, and how about you?
A strong tornado moved through the city of Adairsville, Georgia around 11:00 am Wednesday morning.
Governor Nathan Deal declared a state of emergency in Gordon and Bartow counties, where up to 100 homes were damaged and 17 injuries were reported. There was one report of the death of a man that was killed in his mobile home.
The tornado produced extensive and wide spread damage to homes, businesses and automobiles along its path.
The tornado crossed Interstate 75 near exit 301 and tossed and flipped around 100 vehicles in the process.
A powerful storm system is forecast to race from west to east across the United States for the early to middle portion of the week.
The NWS Storm Prediction Center has outlined a Slight Risk for severe thunderstorms on Tuesday from northeast Texas to southern Illinois, southeast across the Lower Mississippi River Valley.
The main threat will be damaging wind gusts in excess of 60 mph, however isolated tornadoes can not be ruled out.
By Wednesday, it appears the threat of severe weather will shift eastward to include the Mid-Atlantic and Southeast. The primary threat will be thunderstorms capable of damaging wind gusts.
People in these areas should stay abreast to the latest forecasts regarding this potentially significant event.
Big news today from Walmart and Straight Talk Wireless. Starting on January 11, 2013 in more than 2,000 Walmart stores and online at Walmart.com, customers will have access to the iPhone 5 and iPhone 4 on Straight Talk’s $45 no contract unlimited talk, text and data plan.
To make this offer even more affordable, Walmart will be offering customers who purchase the phone in the store, a no interest fixed-monthly payments special financing offer for only $25 a month with a Walmart Credit Card.
“We are thrilled to be bringing the remarkable iPhone 5 to customers looking for one of the most advanced smartphones with one of the most affordable No Contract plans ever,” said F.J. Pollak, CEO and President, TracFone Wireless. “The advanced iPhone 5 with our unlimited $45 monthly plan and Walmart’s $25 special financing offer is a marriage made in heaven – making it the most affordable premium smartphone offer in America. With this exclusive offer the last reason for not purchasing the No Contract Straight Talk plan is gone.”
Pricing and Details for iPhone The Apple iPhones for Straight Talk will be available for purchase at the following prices:
- The iPhone 5 will be available in black and white for $649 for the 16GB model.
- The iPhone 4 will be available in black and white for $449 for the 8GB model.
Pricing for the Straight Talk no-contract plans include:
- $45 – No Contract Monthly Plan with Unlimited Nationwide Talk, Text, and Data.
- $60 – No Contract Monthly Plan with Unlimited Nationwide Talk, Text, and Data PLUS Unlimited International Calling to more than 1,000 destinations in Mexico, Canada, India, and in other countries. – Learn more from Walmart