in_the_media

Fuel consumption down, holiday spending up

Media Outlet: 

KYW News Radio

Thanks to the Internet, Americans have sharply increased their holiday spending. "They (consumers) are shifting their buying patterns because the cost of driving to the big box stores is going up," said Fred Murphy, a professor at Temple's Fox School of Business who worked for the U.S. Department of Energy, says there has been a huge drop in gasoline consumption. "So, they are saving gasoline by buying online. I think they are buying more for Christmas because recent indications are that the economy is getting stronger and people are feeling more secure in their jobs so they are more willing to spend."