Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTDaniel KlineFri, July 17, 2026 at 10:33 PM GMT+2 4 min readWhen gas prices go up, consumers generally shift their spending away from other areas because, in many cases, driving isn't optional."Faced with higher gasoline bills, some households may be inclined to trim their spending on other things. In the April Consumer Checkpoint, we discussed how some areas of discretionary spending, such as durable goods (e.g., furniture) and food services (e.g., restaurants), were candidates for a trim. Alongside this, previous sharp rises in gas prices even appear to have led to a decline in the share of spending on groceries, perhaps as households trade down," according to a Bank of America report.Consumers have traditionally made cuts when gas prices cross certain levels."Historical Black Box Intelligence analysis reveals a harsh industry reality: restaurant traffic historically declines once the national average for a gallon of regular gas surpasses $3.50," according to