Marketplace Morning Report – January 1, 2026

Episode Theme:
A quick, insightful rundown of pressing economic news to start the year—highlighting falling gas prices and their outlook, the aftershocks in the electric vehicle (EV) market following expiring incentives, and a hopeful look at the revival of analog photo booths as a new museum opens in NYC.

1. Gas Prices: Lower for Now, but Will It Last?

[01:32–03:33]

Key Points:

• Cheapest December at the pump since 2020:
  Crude oil overproduction has pushed prices down—crude oil prices in 2025 fell 20% lower compared to prior years.
• 2026 Gas Price Outlook:
  Gas prices are expected to stay low in the near term, but experts warn that the cycle of prices means they will eventually rise again.

Insights & Quotes:

• Doug Terrison (Marketplace):
  “U.S. oil companies may not be happy about low prices, but Americans at the pump should be in luck.” [02:04]
• Ed Herz (University of Houston):
  “In the new year, consumers should expect gasoline prices to be 10 to 15% lower in 2026 than they were in 2025.” [02:11]
  • This drop is expected to support economic growth and boost consumer spending.
  • “That’s something we all see, you know, at least once a week. And it’s something that comes out of our pocket and goes into the gasoline pump.” [02:36]
• Cycle of Oil Prices:
  “The cure for low oil prices is low oil prices, because low prices tend to increase the demand for crude while encouraging oil companies to cut back production.” [03:00, Doug Terrison quoting industry wisdom]
• Bottom Line:
  “After we get through this lower price period in 2026, rest assured your gas prices will start to go back up again.” [03:19, Doug Terrison]

2. Electric Vehicles and the End of Federal Incentives

[03:33–04:31]

Key Points:

• End of Federal EV Tax Credits:
  President Trump’s new tax and spending law cut federal tax credits for EVs, a program dating from 2008 and expanded under Biden. The credits expired in September 2025.
• Immediate Impact:
  EV sales dropped sharply post-incentive—monthly figures fell almost 50% from September to October.
• “Pull Forward” Effect:
  Many consumers bought EVs earlier in 2025 to capitalize on the expiring credit.

Insights & Quotes:

• Henriette (Marketplace):
  “Sales maybe unsurprisingly, really fell off once there was no longer this incentive for consumers. Monthly EV sales fell by nearly 50% in October from September, and they've sort of stayed at that level in November.” [03:55]
  • She notes classic “pull forward” behavior: “People who might have bought an EV, say around now...did that instead in July or August when this tax credit was still on the books.” [04:12]

Memorable Moment:
Encouragement for listeners to hear more on Marketplace Tech: “You can hear that full conversation on our Marketplace tech program. It’s available online at marketplace.org.” [04:31]

3. The Photo Booth Revival: New York’s Newest Museum

[05:17–08:21]

Key Points:

• A new business and museum:
  Photo booth technician Brianna Conley Saxon opens “Auto Photo,” a gallery and museum in Manhattan dedicated to the history and art of analog photo booths.
• From Side Project to Mission:
  Brianna started restoring booths after a thrift store find in 2009; over the years, she’s collected and maintained many, turning passion into preservation.
• Pandemic Gamble:
  Betting that people would crave tangible, in-person memories post-pandemic, she expanded during COVID, believing demand for analog prints would rebound.

Insights & Quotes:

• Brianna Conley Saxon:
  “The more I learned about the analog booths, it just seemed like it was a dying art… I kind of got fixated on trying to buy as many booths as I could.” [06:15]
  • On opening a museum: “Having those actual prints in their hands, I gambled that people would, once the world opened back up, want to take photos with their loved ones and have those memories to hold onto forever.” [07:09]
  • “This is the centennial. It’s 100 years since the invention. So like, yeah, I think people do want to learn.” [08:03]
• Significance:
  An artistic movement and cultural appreciation for analog technology are resurging, especially among younger generations influenced by TikTok and community word of mouth.

4. Quick Economic Note: Minimum Wage Increases

[08:21–End]

Key Point:

• Minimum wages are rising in 19 states and 47 cities and counties this year, affecting over 8 million workers—set to see bigger paychecks in 2026 (according to the Economic Policy Institute).

Notable Quotes & Memorable Moments

• “In the new year, consumers should expect gasoline prices to be 10 to 15% lower in 2026 than they were in 2025.”
  — Ed Herz, [02:11]

• “The cure for low oil prices is low oil prices.”
  — Industry wisdom, echoed by Doug Terrison and Ed Herz, [03:00]

• “Monthly EV sales fell by nearly 50% in October from September, and they've sort of stayed at that level in November.”
  — Henriette, [03:55]

• “Having those actual prints in their hands, I gambled that people would, once the world opened back up, want to take photos with their loved ones and have those memories to hold onto forever.”
  — Brianna Conley Saxon, [07:09]

Timestamps for Key Segments

• [01:32] Gas Price Overview & 2026 Outlook
• [03:33] Federal EV Incentives End & Sales Impact
• [05:17] Photo Booth Museum Story
• [08:21] Minimum Wage Increases Mention

This Marketplace Morning Report episode delivers brisk, focused updates on pivotal consumer topics—lower gas prices and the real-world ripple effects of policy changes in energy and transportation, plus a charming feature on analog culture making a comeback. Perfect for listeners wanting news that blends economic context with compelling human stories.