Cheap Gas Could Save Consumers $80B in 2015
Low gas prices could save American consumers as much as $80 billion in 2015.
A gallon of gasoline is roughly $1 cheaper now than it was a year ago and analysts predict that it will remain low in the near future. Apart from causing currency values in net export economies to tumble, the availability of cheap gasoline will also have a direct influence on the vehicles people buy in 2015. Lower prices will probably mean increased SUV and truck sales, but the bottom line is that it will mean increased disposable household income.
Matt Smith, a global commodity analyst with Schneider Electric, forecasts that the falling prices could mean as much as $378 million per day in savings or $80 billion through 2015 for consumers.