Driving the Day: 11/6/12

Nov 6, 2012

Need to know…

  • Small Business Owners Head to Polls Discouraged About Future. Many of the nation’s smallest employers will head to the polls today still discouraged about the future of their businesses and worried about the direction of the U.S. economy. Small business hiring and optimism indicators often vary based on the source; however, in the past month, nearly every survey of small business owners showed pessimism and frustration as employers pull back on hiring and brace for continued uncertainty.
  • Gas Prices May Drop for NY-Area Drivers. One week after Superstorm Sandy hit the area, the price of gas has increased 10 cents per gallon or more in the New York City area and in some of the hard-hit parts of New Jersey. Across the United States, however, the price of gasoline is falling quickly; it fell 7 cents this past week and has declined almost 9% in a month to $3.47 per gallon. The national average should be only slightly higher this Election Day than a year ago due to a dramatic drop in the price of wholesale gasoline and low demand from consumers. According to Tom Kloza, chief oil analyst at the Oil Price Information Service, the price of gas should fall further in the coming weeks, even for people in New York and New Jersey.

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