Perception vs. reality on gas prices

So consumers are in a huff over having to pay so much at the pump - and yet, prices are coming down substantially. An average gallon of regular in the L.A. area is $4.089, according to the government survey, down more than 20 cents from four weeks ago. It wouldn't be surprising to see the average price fall below $4 in the next couple of weeks (even though oil has been creeping back up). The real question is whether consumer confidence bounces back to the point where people will feel comfortable with spending more on vacations, automobiles, TV sets, and even homes. I have my doubts, at least short term - confidence-building takes time.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Economy stories:
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Exit interview with Port of L.A.'s executive director
L.A. developers relying on foreign investors bend a few rules
Holiday shopping: On your marks, get set... spend!

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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