By Sandy Shore, AP Business Writer
Many Americans are determined not to let expensive gas be the Grinch that spoils their holiday spending plans.
Gas prices on average have risen about 17 cents since Labor Day, following a $12 increase in oil prices. By one analyst's estimate, that means Americans are spending around $68 million more on gas each day than in early September.
While that sounds like a threat to sales of Barbie Video Girl dolls and even iPods, on an individual basis the increase amounts to $3 or $4 extra to fill up a car, a bit more for an SUV or a pick-up. Many motorists absorb the cost increases by skipping the gourmet coffee or passing on a movie. Or they drive less.
Cassie Peterson, 25, a health coordinator from St. Paul, said higher prices won't change what she buys for her nieces, as she pumped gas into a Ford F-350 pickup truck at a SuperAmerica gas station in White Bear Lake, Minn., on Friday. She paid $2.80 per gallon.
"Whatever I see and they like, they get," she said.While the national average for gas of $2.86 per gallon is the highest it's been at the start of the holiday shopping season in three years — and prices have topped $3 in some major U.S. cities — hardly hits drivers with the sticker shock they experienced when gas topped $4 per gallon in 2008.
"If this was the first time, it would have huge implications," said Marshal Cohen, chief industry analyst at market research firm NPD Group. "But consumers have seen this several times before."
Analysts like Cohen do concede that the $3 mark does make drivers notice and can influence spending habits.
"It stinks," said stockbroker Jack Landers, 64, as he paid $3.11 at a service station in a suburb of Albany, N.Y. earlier this week. He estimated that a fill-up now costs him an extra $6 that "I'm not gonna spend on coffee at Starbucks or getting the extra bag of chips at lunch."