Appeared on May 25, 2010
Shawkat Hammoudeh, PhD, a LeBow College professor of economics, was quoted in an article titled “Are Lower Gas Prices a Windfall for Consumers?” featured on CNBC.com. The article addressed the recent decline in gas prices and the subsequent effect on consumer spending.
“Consider the reason for the slide in gasoline prices. Crude oil prices logged their decline on fear that the U.S. is about to import a second recession from overseas,” said Hammoudeh.