Wednesday, November 21, 2007

Why Thanksgiving Dinner Could Cost More? Could it be the gas?

I came across this report from the Renewable Fuels Association discussing the "Impact of Higher Oil Prices on Thanksgiving Dinner" (note: PDF file). This pretty much sounds like common sense to me. If the price of gasoline has been going up, it is going to have an impact on a lot of things. It will cost you more if you are driving. It will drive up the price of food items since they have to be transported, and transport has higher fuel costs, which I am sure get passed down to consumers. It really is a chain reaction, so to speak.

One example from the document:

"At today’s prices, Americans will spend more than $1.8 billion on gasoline over the Thanksgiving holiday, nearly $520 million, or 39 percent, more than Thanksgiving 2006. That is $520 million that cannot be spent on the Friday after Thanksgiving, the traditional kickoff to the holiday shopping season."

Interesting way to look at it. You may have less to spend on the crazy Friday because you spent more getting there. Yes, for me, it is crazy Friday. The limited "specials" retailers offer for their wares at the crack of dawn don't justify my family or me getting up to buy anything. We may however go do some people watching later in the day, but buying anything is not part of the plan. Besides, most the time you can find a good price anyhow later in the season if you do some comparison shopping or shop online.

No comments: