Number of the Week: Compensating for High Gas Price

By Justin Lahart (WSJ)

138.45 billion: Gallons of gasoline the U.S. is forecast to consume this year, according to theEnergy Information Administration.

The price of gasoline eased in recent weeks, but it’s still high. At the current level of $3.71 for a gallon of regular, the U.S. would spend $140 billion more at the pump annually than a year ago, when it fetched $2.70. That’s equal to about 1.3% of the $10.9 trillion consumers look likely to spend this year according to a forecast from Macroeconomic Advisers.

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