Higher gas prices are a big sales risk
This post is part of the On the Margin blog.
Gas prices plunged late in 2014 and in 2015. Unsurprisingly, restaurant sales in early 2015 were spectacular.
According to MillerPulse, restaurant industry same-store sales in January 2015 increased 5.3 percent — the highest rate in the post-recession era.
Gas prices have hovered around $2 per gallon ever since, a historically low rate that has put money in Americans’ pockets.
But those days appear to be ending. Gas prices are creeping back up as the price of oil rises. It’s more likely that gas prices will keep increasing than it is