Chart of the Week: Walmart Relative Sales versus Gasoline Prices

Over the past decade, when gasoline prices have been
falling, year-on-year same-store sales gains at Wal-Mart have tended to outpace
the growth in overall retail sales and vice versa.

Relative
Walmart Sales versus Gasoline

click for much larger chart
>

Wmtgas

Source: Michael Panzner

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While
it is not necessarily causal, it lends some credence to the idea that the
working-class customers of the nation’s largest retailer adjust their spending
in response to what they must pay at the pump.

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Quote
of the Day:

“There is no cure for birth or death save to enjoy the
interval.” 
George Santayana 

What's been said:

Discussions found on the web:
  1. The Stalwart commented on Aug 25

    Oil Contrarianism

    Jeff Matthews offers a simple observation about the world’s oil market:There’s Nigeria (10% of U.S. crude oil imports), which is run by a “former military ruler” who was about as “freely elected” as Saddam Hussein back in his glory days

  2. The Nattering Naybob commented on Aug 26

    Barry,

    Excellent work and yes it’s boomerang time. Whether it be high oil prices, terrorist activity or global pandemic, or a combination of the above? Take your pick.

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