Infographic: How falling gas prices fuel the consumer

Infographic: How Falling Gas Prices Fuel the Consumer

As gas prices remain low, Americans are experiencing savings at the gas pump. How much of their extra disposable income are consumers spending? And what do they spend it on?

From January 2014 to January 2015, gas prices dropped by $1 per gallon (30%).

What did Americans spend their extra savings from the gas pump on?

Services:

• 18% Restaurant
• 7% Entertainment
• 6%Personal & Professional Services

Non-Durable Goods:

• 10% Grocery
• 7% Retail
• 6% Department Stores
• 5% Discount Stores
• 5% Online & Catalogue

Durable Goods:

• 4% Electronics & Appliances
• 2% Home Improvement

Individuals spent roughly 80% of their savings from lower gas prices.

For every dollar less spent at the gas pump, individuals spent roughly 80 cents (72–89 cents) on other things.

Who saw the largest increase in disposable income?

Income:

• 0-$29,999: 1.6%
• $30,000–41,999: 1.3%
• $42,000–54,999: 1.1%
• $55,000–79,699: 0.9%
• $79,700+: 0.4%

Age:

• 18-29: 0.7%
• 30-39: 0.7%
• 40-49: 0.6%
• 50-59: 0.5%
• 60-69: 0.4%
• 70+: 0.4%

Where was the largest increase in disposable income felt?

Midwest:

• Iowa, Indiana, Kansas, Missouri, Montana, Ohio, South Dakota

South

• Alabama, Kentucky, Louisiana, Mississippi, Oklahoma, Tennesse, Texas

© 2018 JPMorgan Chase & Co.