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Danielle DiMartino Booth: Gasoline prices fell from $4.60 peak in May to $4.15 nationwide

Danielle DiMartino Booth: Gasoline prices fell from $4.60 peak in May to $4.15 nationwide
U.S. gas prices drop, inflation slows

Danielle DiMartino Booth, CEO / Founder at Quill Intelligence, highlights recent shifts in retail gasoline prices across the U.S. According to DiMartino Booth, average pump prices peaked at $4.60 per gallon in May, then eased to $4.15, though regional variation persists. She notes that in February, prices were lower at $2.98. This significant change in fuel costs, she adds, contributed to a decline in core consumer price index (CPI) growth to 0.21% in May, down from April's 0.38%.

Earlier this year, Danielle DiMartino Booth observed that consumer credit growth rose to a 2.6% annualized rate in the first quarter. She also noted that average sales volumes at major U.S. staples have been negative in most recent quarters. The recent easing in gasoline prices comes as consumers contend with shifting spending patterns.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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