Nigel Gault

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Last quote by Nigel Gault

Every $10 on the oil price boosts gasoline prices by about 25 cents (a gallon), pushes up consumer prices by about 0.4 of a percent total and we think takes about 0.2 percent off growth in the (US) economy. If consumers are paying higher prices at the gasoline pump then that leaves them with less income to spend on everything else.feedback
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Feb 24 2011
Nigel Gault has most recently been quoted in an article called Economic recovery threatened by oil price spike?. Nigel Gault said, “Every $10 on the oil price boosts gasoline prices by about 25 cents (a gallon), pushes up consumer prices by about 0.4 of a percent total and we think takes about 0.2 percent off growth in the (US) economy. If consumers are paying higher prices at the gasoline pump then that leaves them with less income to spend on everything else.”.
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