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Thu March 29, 2012
Rising gas prices = rising worries for Michigan retailers
Michigan retailers are becoming more concerned about the impact rising gasoline prices will have on sales.
Michigan’s average gas price leaped over four dollars a gallon this week.
The Michigan Retailers Association released a survey Wednesday showing lower sales projections over the next three months.
Tom Scott is with the Michigan Retailers Association. He says rising gas prices will force retailers to spend more to ship their products and discourage customers from coming into their stores.
“Gas prices are always a concern," says Scott, "And when they spike up like that…it’s a bigger concern.”
Michigan’s average price for a gallon of gas is just under $4.10, according to Gasbuddy.com.