Gas prices soon to hit low point for ’12

Gas prices soon to hit low point for ’12

Gas prices soon will drop to their lowest level of the year.

By Monday, the national average should fall below the $3.28 a gallon that drivers paid Jan. 1, according to analysts. The drop is a gift for those hitting the road during what is expected to be the busiest Christmas travel season in six years.

Still, it’s more like a stocking stuffer. That’s because for the second-straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.

Shoppers may see discounts soon

NEW YORK

If shoppers don’t show up in stores soon, more “70 percent off” sale signs will.

After a promising start to the holiday shopping season over the four-day Thanksgiving weekend, sales have slowed, according to an analysis of data done for The Associated Press by sales tracker ShopperTrak. Worries about weak U.S. job growth and other concerns are likely to blame for Americans spending less.

That puts pressure on J.C. Penney, Macy’s and other stores, which had been offering fewer discounts this season than they did last year, to step up promotions to lure shoppers.

From wire reports