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Drop In Price Of Petrol Fuels Consumer Optimism In US: NACS

Published on Feb 20 2017 10:30 AM in Retail tagged: USA / fuel prices / NACS / Consumer Fuels Survey

Drop In Price Of Petrol Fuels Consumer Optimism In US: NACS

Following a 5-cent drop in the price of petrol in the past month, to $2.25 per gallon, 57% of Americans have stated to feel optimistic about the economy, according to the latest National Association of Convenience Stores (NACS) Consumer Fuels Survey.

This is an increase in confidence of 13%, compared to last year's survey.

However, 46% of respondents said that they expected the price of petrol to go up over the next month - an increase of 11% compared to this time last year.

Most optimistic were those living in the Southern United States (60%). Consumers in the Northeast were the least optimistic (54%) and of those, 53% thought that the price of petrol had gone up in the last month.

"As the spring draws closer, convenience retailers are hopeful that consumer optimism remains high and drivers continue to hit the roads, and visit their stores to refuel on drinks, snacks and meals," said Jeff Lenard, vice president of Strategic Industry Initiatives at NACS.

The online survey was carried out on behalf of the National Association of Convenience Stores, NACS, by market research firm Penn Schoen Berland. It included 1,110 adults, each of which refuels their cars at least once a month.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. Click subscribe to sign up to ESM: The European Supermarket Magazine

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