Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices.
The dollar volume of purchases charged grew 10.7 percent in June from a year ago, while the number of transactions rose 6.8 percent, according to First Data Corp.’s SpendTrend report issued this month. The difference probably represents the increasing cost of gasoline, said Silvio Tavares, senior vice president at First Data, the largest credit card processor.
“Consumers, particularly in the lower-income end, are being forced to use their credit cards for everyday spending like gas and food,” said Tavares, who’s based in Atlanta. “That’s because there’s been no other positive catalyst, like an increase in wages, to offset higher prices. It’s a cash-flow problem.”
Rising costs of food and gasoline are leaving Americans less money to spend discretionary items, slowing the pace of the recovery, Tavares said. Household spending accounts for about 70 percent of the world’s largest economy.
After-tax income adjusted for inflation fell 0.1 percent from January through May, according to figures from the Commerce Department. The drop came as Labor Department data showed energy prices rose 8.2 percent and food climbed 2 percent during the same period.
‘Dramatic’ Swings
The swings in purchases of fuel and food have been “dramatic,” Tavares said. The volume of gasoline purchases placed on credit cards jumped 39 percent last month from a year earlier, compared with a 21 percent increase in June 2010, he said. Food shopping increased 5 percent after falling 7 percent last year.
The value of an average transaction on credit cards outpaced the gain for debit cards, showing consumers are increasingly relying on borrowing to pay for gasoline and other necessities, Tavares said.
Save on gas and earn cash with Fuel Direct
Save 40 to 90 cents Per Gallon Of Gas With Fuel Directs' XP3
Friday, July 22, 2011
Tuesday, July 12, 2011
Fuel Direct 5 Minute Introductory Video!
Click Here to check out this amazing opportunity from Fuel Direct.
As gas prices continue to go up, the opportunity for Fuel Direct get even better!
So what is your fuel strategy? Complain? Or get on Board?
Steve Long
612-702-6234
As gas prices continue to go up, the opportunity for Fuel Direct get even better!
So what is your fuel strategy? Complain? Or get on Board?
Steve Long
612-702-6234
Friday, July 1, 2011
Fuel Direct-JULY OIL RUSH CONTEST
JULY OIL RUSH CONTEST
THE TOP THREE DISTRIBUTORS - STRIKE IT RICH!
Master Prospectors are
Joining the Recruiting Rush to be
THE TOP THREE TO STRIKE LIQUID GOLD!
The Top Three Fuel Direct Distributors, who personally sponsor and sell the most Fuel Saver and Premium Business Builder Packages in the month of July, will be awarded the following cash prizes:
1st Place Gusher = $5,000
2nd Place Claim = $2,000
3rd Place Claim = $2,000
The Top 10 List for the July Oil Rush Contest will be updated daily Monday - Friday by 3:00 p.m. (Central Time) starting July 8th.
www.fueldirectsavings.com
THE TOP THREE DISTRIBUTORS - STRIKE IT RICH!
Master Prospectors are
Joining the Recruiting Rush to be
THE TOP THREE TO STRIKE LIQUID GOLD!
The Top Three Fuel Direct Distributors, who personally sponsor and sell the most Fuel Saver and Premium Business Builder Packages in the month of July, will be awarded the following cash prizes:
1st Place Gusher = $5,000
2nd Place Claim = $2,000
3rd Place Claim = $2,000
The Top 10 List for the July Oil Rush Contest will be updated daily Monday - Friday by 3:00 p.m. (Central Time) starting July 8th.
www.fueldirectsavings.com
Tuesday, June 21, 2011
New Fuel Direct Video
Check out the new Fuel Direct Video that has just been released: http://www.fueldirect365.net/548246/welcome
This 5 minute video is powerful. Basically if you have someone that watches the new video that doesn't take action, check them to see if they have a pulse.
This will be added as the "Welcome Video to the main Fuel Direct site in the next week or so.
http://www.fueldirectsavings.com
This 5 minute video is powerful. Basically if you have someone that watches the new video that doesn't take action, check them to see if they have a pulse.
This will be added as the "Welcome Video to the main Fuel Direct site in the next week or so.
http://www.fueldirectsavings.com
Thursday, June 2, 2011
15 Reasons For Gas To Hit $5 Per Gallon
1. Japan is boosting oil and gas imports as their nuclear program melts down
In the past few months, the tsunami and nuclear disaster in Japan have slowed the need for energy. But in the coming weeks, oil imports are set to surge as the rebuilding gets underway and industrial production ramps up to meet demand.
2. On April 28th, Russia put a 44% tariff on oil exports
The people in Russia and their leaders have pointed fingers at the evil “Wall Street market speculator” and “oil price gougers” as the scapegoats responsible for high gasoline prices.
The political solution was to institute price controls. It has worked as well as expected...
Domestic prices that were now below the cost to produce oil caused sellers of energy to export their wares out of the country so that they could get a higher price. This in turn led to shortages within Russia. Buses and trucks stopped running due to lack of gasoline.
The politicians reacted by supplying even more government. The export tariff was raised to 44% to encourage domestic supply. This plan has failed; the gasoline producers would still be selling at a loss.
They are now sitting on their gas and waiting for better days.
3. Rolling blackouts in China
China is attempting to stop inflation by setting low prices for oil. This has created rolling blackouts in key industrial provinces that will take half a percent off of GDP.
4. India is paying billions in subsidized prices
India is in a similar boat as China. The country imports 73% of their fuel. Inflation is inching towards the double digits.
Do they allow the fuel prices to float — and feel the inflation and suffer the corresponding riots... Or do they continue to spend billions they can’t afford to keep prices low?
5. Sudan rescue workers can't move food because they have no gasoline
In war-torn Sudan, a border village was attacked last weekend by the North. Doctors Without Borders and other aid workers can’t get in to move food and shelter, due to the lack of gasoline for the trucks.
6. The Mongolian stock market lost 30%
Mongolia imports the vast majority of its gasoline from Russia — or did before April 28th...
The stock market fell in the past month because miners can't run their gear without diesel. I was scheduled to speak at an investment conference in UB that may be canceled due to lack of transport.
That said, Mongolian-based oil companies are doing very well.
7. Kenya is rationing gasoline
Two weeks ago, I was in Kenya. Many gas stations didn’t have any more fuel to sell. The shortage lead the news for the entire week I was there.
The U.S. has an effective ban on offshore drilling. There have been no new offshore oil drilling permits issued by the Federal Government since the BP spill last summer.
8. Libya is in chaos
Our newest war in the Middle East has entered its fourth month. More infrastructure is destroyed daily.
9. Chavez nationalized failure
Venezuela oil production continues to slide due to corruption and poor management. From UPI:
State-run oil corporation PDVSA sacked half of the directors on its board after the energy giant's pension fund was found to have lost $453 million in a Ponzi scheme linked to an investor in Connecticut. It was the latest of financial woes to strike the troubled oil company. The fraud apparently took place in 2004 but was discovered only recently.
10. No nukes
Germany is halting all nuclear power production by 2020; seven older plants have already been closed.
Nuclear energy is now supplying 25% of Germany’s energy needs.
Despite what you hear out of the green party, the majority of this power will be replaced by oil or natural gas — not by wind and solar.
11. Global oil production is flat and falling
oil june 2
12. Exports are expected to decline
exports june 2
13. The U.S. dollar keeps falling
dollar june 2
14. The Saudis can’t help
A senior Saudi oil official recently said the Kingdom “expects oil production to hold steady at an average of 8.7 million barrels per day to 2015.”
Domestic Saudi oil demand is increasing 10% per year. So expect a net decline in exports from our “friend” in Arabia.
And the final reason that oil stocks are going up...
15. Energy stocks have found support
Save $0.75 Per gallon of gas with Fuel Direct
In the past few months, the tsunami and nuclear disaster in Japan have slowed the need for energy. But in the coming weeks, oil imports are set to surge as the rebuilding gets underway and industrial production ramps up to meet demand.
2. On April 28th, Russia put a 44% tariff on oil exports
The people in Russia and their leaders have pointed fingers at the evil “Wall Street market speculator” and “oil price gougers” as the scapegoats responsible for high gasoline prices.
The political solution was to institute price controls. It has worked as well as expected...
Domestic prices that were now below the cost to produce oil caused sellers of energy to export their wares out of the country so that they could get a higher price. This in turn led to shortages within Russia. Buses and trucks stopped running due to lack of gasoline.
The politicians reacted by supplying even more government. The export tariff was raised to 44% to encourage domestic supply. This plan has failed; the gasoline producers would still be selling at a loss.
They are now sitting on their gas and waiting for better days.
3. Rolling blackouts in China
China is attempting to stop inflation by setting low prices for oil. This has created rolling blackouts in key industrial provinces that will take half a percent off of GDP.
4. India is paying billions in subsidized prices
India is in a similar boat as China. The country imports 73% of their fuel. Inflation is inching towards the double digits.
Do they allow the fuel prices to float — and feel the inflation and suffer the corresponding riots... Or do they continue to spend billions they can’t afford to keep prices low?
5. Sudan rescue workers can't move food because they have no gasoline
In war-torn Sudan, a border village was attacked last weekend by the North. Doctors Without Borders and other aid workers can’t get in to move food and shelter, due to the lack of gasoline for the trucks.
6. The Mongolian stock market lost 30%
Mongolia imports the vast majority of its gasoline from Russia — or did before April 28th...
The stock market fell in the past month because miners can't run their gear without diesel. I was scheduled to speak at an investment conference in UB that may be canceled due to lack of transport.
That said, Mongolian-based oil companies are doing very well.
7. Kenya is rationing gasoline
Two weeks ago, I was in Kenya. Many gas stations didn’t have any more fuel to sell. The shortage lead the news for the entire week I was there.
The U.S. has an effective ban on offshore drilling. There have been no new offshore oil drilling permits issued by the Federal Government since the BP spill last summer.
8. Libya is in chaos
Our newest war in the Middle East has entered its fourth month. More infrastructure is destroyed daily.
9. Chavez nationalized failure
Venezuela oil production continues to slide due to corruption and poor management. From UPI:
State-run oil corporation PDVSA sacked half of the directors on its board after the energy giant's pension fund was found to have lost $453 million in a Ponzi scheme linked to an investor in Connecticut. It was the latest of financial woes to strike the troubled oil company. The fraud apparently took place in 2004 but was discovered only recently.
10. No nukes
Germany is halting all nuclear power production by 2020; seven older plants have already been closed.
Nuclear energy is now supplying 25% of Germany’s energy needs.
Despite what you hear out of the green party, the majority of this power will be replaced by oil or natural gas — not by wind and solar.
11. Global oil production is flat and falling
oil june 2
12. Exports are expected to decline
exports june 2
13. The U.S. dollar keeps falling
dollar june 2
14. The Saudis can’t help
A senior Saudi oil official recently said the Kingdom “expects oil production to hold steady at an average of 8.7 million barrels per day to 2015.”
Domestic Saudi oil demand is increasing 10% per year. So expect a net decline in exports from our “friend” in Arabia.
And the final reason that oil stocks are going up...
15. Energy stocks have found support
Save $0.75 Per gallon of gas with Fuel Direct
Friday, April 29, 2011
Gas Coupon For $0.75 Per Gallon
The national average of gas today is at $3.93 per gallon. XP3 saves on average $0.75 per gallon. So if you had a choice of filling up a station at $3.32 or $3.93, where would you fill? Of course the line would be long… but when you have a tube of XP3 with you, you can fill anywhere and see the same low price. Think about it, people make choices on $0.05 gas coupons.
For those people who say they don’t have time, there is a new 90 sec trailer video: Fuel Direct Intro Video
Also a new video on how XP3 works: How XP3 Works
Click here to learn how to receive your gas coupons
For those people who say they don’t have time, there is a new 90 sec trailer video: Fuel Direct Intro Video
Also a new video on how XP3 works: How XP3 Works
Click here to learn how to receive your gas coupons
Monday, April 18, 2011
Gas Prices in 6 states, nation's capital tops $4 a gallon
Add New York to the growing list of states where gas prices are topping $4 per gallon.
On Sunday, the Empire State became the sixth state to top $4 for the average price of a gallon of gas, joining Alaska, California, Connecticut, Hawaii and Illinois, according to AAA's Daily Fuel Gauge. The average price of gas also rose to more than $4 per gallon in Washington, D.C., on Saturday.
The next states to join the list could be Michigan, which has gas for $3.95 per gallon on average, and Indiana, where the average price is $3.94. Nevada, Washington and Wisconsin are close behind.
Hawaii has the highest price in the U.S. at $4.48 per gallon. Wyoming has the lowest, at $3.54.
The national average for gas has increased for 26 straight days, and is now at $3.83 per gallon. That's up 29 cents from a month ago. Retail surveys suggest motorists are reacting to higher prices now by buying less fuel. Still, the government expects pump prices to keep climbing this summer as vacationers take to the highways.
For American drivers, the $4 mark harkens back to the summer of 2008, when oil rose to $147 per barrel and gas prices topped out at $4.11 per gallon before the economy went into a tailspin.
The rapid increase at the pump follows a parallel rise in oil. Since Labor Day, oil has risen 48 percent and U.S. gas prices have gone up 42 percent. The increases gained momentum in mid-February when a popular rebellion in Libya turned violent and shut down the country's exports. Crude has jumped 30 percent since then, with gas prices gaining 22 percent.
Fuel Direct helps save between $0.40 to $0.90 per gallon of gas. Learn How!
On Sunday, the Empire State became the sixth state to top $4 for the average price of a gallon of gas, joining Alaska, California, Connecticut, Hawaii and Illinois, according to AAA's Daily Fuel Gauge. The average price of gas also rose to more than $4 per gallon in Washington, D.C., on Saturday.
The next states to join the list could be Michigan, which has gas for $3.95 per gallon on average, and Indiana, where the average price is $3.94. Nevada, Washington and Wisconsin are close behind.
Hawaii has the highest price in the U.S. at $4.48 per gallon. Wyoming has the lowest, at $3.54.
The national average for gas has increased for 26 straight days, and is now at $3.83 per gallon. That's up 29 cents from a month ago. Retail surveys suggest motorists are reacting to higher prices now by buying less fuel. Still, the government expects pump prices to keep climbing this summer as vacationers take to the highways.
For American drivers, the $4 mark harkens back to the summer of 2008, when oil rose to $147 per barrel and gas prices topped out at $4.11 per gallon before the economy went into a tailspin.
The rapid increase at the pump follows a parallel rise in oil. Since Labor Day, oil has risen 48 percent and U.S. gas prices have gone up 42 percent. The increases gained momentum in mid-February when a popular rebellion in Libya turned violent and shut down the country's exports. Crude has jumped 30 percent since then, with gas prices gaining 22 percent.
Fuel Direct helps save between $0.40 to $0.90 per gallon of gas. Learn How!
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