Optimism about the economy could actually have a negative impact on your wallet this year, economists are predicting.
According to CBS, the recovering economy is pushing oil prices higher than they have been in almost a year, the result of which could then in turn ironically stifle recovery.
U.S. gas suppliers have reportedly been stocking up on gas, anticipating an increased demand as Americans begin to feel financially stable enough to spend again, which could prevent an immediate price increase. Nonetheless, economists predict Americans will see prices rise throughout 2012.
Turmoil in the Middle East, as Iran threatens to block the Strait of Hormuz if hit with new sanctions over its nuclear program, could potentially limit supplies in 2012, another factor that could push the prices at the pump back up.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus