July 4 spending estimated to increase more than 21%

by Kim Souza (ksouza@talkbusiness.net)

Inflation pressures aren’t expected to curtail July 4th spending. The National Retail Federation (NRF) predicts spending will be $9.5 billion, up 21.7% from $7.8 billion last year. The increase, if realized, comes from more people celebrating and higher overall prices.

Average spending, according to the NRF, is $93.34 and will mostly be on food items and alcohol, which is up from an $84 average last year.

Numerator reports more consumers are celebrating this year but noted that 75% will look for ways to save money as gasoline prices are again above $3 per gallon.

https://talkbusiness.net/2023/06/july-4-spending-estimated-to-increase-more-than-21/

Arkansas motorists pay fifth-lowest gas prices in U.S. as Memorial Day approaches

by Jeff Della Rosa (JDellaRosa@nwabj.com)

Average fuel prices declined in Arkansas as the number of Memorial Day (May 29) travelers is expected to be the third highest since 2000, according to AAA. The number of holiday travelers who will fly is expected to exceed pre-pandemic levels and might be the highest since 2005.

In Arkansas, regular unleaded fuel declined by 2 cents to an average of $3.10 a gallon from $3.12 last week. The U.S. average was flat at $3.54 per gallon compared to a week ago. Arkansas motorists are paying the fifth-lowest price in the United States. Mississippi has the lowest price at $2.98, while California has the highest at $4.79.

According to AAA, lower crude oil prices have helped to reduce fuel prices. Over the past week, energy markets have been balanced, and crude oil prices have been stable at about $70 per barrel.

https://talkbusiness.net/2023/05/arkansas-motorists-pay-fifth-lowest-gas-prices-in-u-s-as-memorial-day-approaches/