Implications: Consumer confidence is a great thing… and I think this report supports the idea that while prices might be rising—especially gas prices—nobody will be as “shocked” at the increase (at least not like we were during the 2008 energy price spike). This time, I think it’s safe to say that most of us saw it coming. Here’s hoping that resilience is strong in over the upcoming summer season, too.
In another interesting story—perhaps an opposing view—the New York Times published an article about the kind of conflict and crisis that could push gas to $5 per gallon or higher very quickly (click here to see that story).
No doubt: The Fuel Economy remains a very critical component in the emerging recovery.