ALEXANDRIA, Va. -- In the wake of gas prices falling by 5 cents per gallon over the past month, a majority of Americans (57%) are optimistic about the economy, according to the latest NACS Consumer Fuels Survey of U.S. adults who purchase fuel for a vehicle at least once per month.
This is an increase from last February, when 44% of consumers were optimistic. More than three-quarters (76%) of all consumers say that gas prices, which fell from $2.30 to $2.25 over the past 30 days, play a role in their feelings about the economy.
Consumers in the South were most optimistic (60%), while those in the Northeast were least optimistic (54%), the survey showed.
One in five Americans (18%) also say that they will spend more money shopping over the coming 30 days. Younger consumers, those ages 18 to 34, are most likely (28%) to increase their spending.
Penn Schoen Berland conducted the online survey Feb. 7-10, 2017, reaching 1,110 U.S. adults who purchase fuel for a vehicle such as a car, truck or van at least once per month.
NACS (National Association of Convenience Stores) is based in Alexandria, Va.