Bloomberg Surveillance · Wednesday, September 9, 2026
Despite higher gasoline prices, consumers are generally absorbing the cost without significant disruption, according to Bruce Van Saan of Citizens Financial Group. He notes that while consumers may be more selective with spending, the strong labor market provides a cushion.
“No, I think people have figured out how to absorb that generally.”
“So it may, if you look at the percentage people spend on filling your gas tank, it's a relatively low percentage. So maybe you eat out one less time during the week to compensate for that. But it hasn't knocked people off their game that much.”
“They may have spent down some of the excess savings they had during COVID, but being a little more selective on where they spend their money, but still spending. And that's bolstered by the strong labor market.”