July Fourth won’t be all fireworks, according to numbers released by National Retail Federation. A survey released by NRF revealed that 59.4% of consumers say increased gas prices will impact spending for the holiday, up from 42.1% of consumers who said so last year.
Almost 200 million Americans (87.8%) feel the price of gas will increase before the Fourth of July. Consumers expect that the average price of gas will be $4.39 per gallon by the holiday.
“Americans will continue to commemorate Independence Day this year, though higher gas prices will impact how they celebrate,” said NRF president and CEO Tracy Mullin. “Retailers are aware of the strain gas prices have on consumers’ wallets and will be offering special promotions on food and beverages for the millions of people planning summer barbecues.”
-- Sarah
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