
Your 60-second money minute. Today’s topic: Beer Loses As Gas Prices Soar
Loading summary
A
With a CNBC YOUR MONEY minute, I'm Jessica Edinger. Which is more important, gas for the rig or a six of beer?
B
High gasoline prices across the nation are forcing drivers to just fill up their tanks but not pick up their favorite six pack of beer from gas station convenience stores.
A
That's CNBC's Mike Santoli. And CNBC's Brandon Gomez notes alcoholic beverage sales were already falling, but the recent drop is is dramatic.
C
The latest Nielsen scanner data shows U.S. beer, malt beverage and cider volumes fell more than 6% year over year. That's a sharp slowdown. Now the pressure is especially visible at convenience stores, places like Seven Eleven, Wawa, Shell, Exxon Mobil, gas stations where beverage volumes are down roughly 9% over the last two weeks.
A
People tend to spend when they're on the road, but not when the wallet's empty after a fill up at the pump.
C
Analysts at Bernstein say higher fuel costs may be squeezing discretionary spending and impulse purchases tied to commuting. And California, where gas prices are topping $6 a gallon, showed the steepest beer sales deterioration. And Arizona and Texas also post a notable decline.
A
There was a time when convenience stores actually sold their gas at a loss, knowing most people would come into the store and overspend on items inside because it's convenient. Wall street is watching to see how the consumer holds up with soaring inflation and soaring fuel prices. Keep up on all of it@cnbc.com I'm Jessica Ettinger C CNBC.
D
This is the table, the one with the view. This is how you reserve exclusive tables with Chase Sapphire Reserve. This is your name on the list. This is the chef sending you something he didn't put on the menu. This is 3 times points on dining with Chase Sapphire reserve and a $300 dining credit that covered the citrus, pavlova and drinks and the thing you didn't think you liked until you tasted it. Chase Sapphire Reserve now even more rewarding.
E
Learn more@chase.com Sapphire Reserve cards issued by JP Morgan, Chase bank and a member FDIC, subject to credit approval.
This brief but insightful episode explores the real-world effect of rising gasoline prices on consumer discretionary spending, focusing specifically on the surprising decline in beer purchases at gas station convenience stores. CNBC experts break down fresh data showing just how much Americans have started skipping those impulse beverage buys as fuel eats up more of the family budget.
"Which is more important, gas for the rig or a six of beer?" (00:02)
The episode frames the discussion as a zero-sum choice for many consumers feeling the pinch.
"High gasoline prices across the nation are forcing drivers to just fill up their tanks but not pick up their favorite six pack of beer from gas station convenience stores." (00:07)
Gas stations, once reliable for both fuel and the added mark-up of impulse purchases, are now struggling to move alcoholic beverages.
"Alcoholic beverage sales were already falling, but the recent drop is dramatic." (00:16)
"Beverage volumes are down roughly 9% over the last two weeks." (00:26)
"In California, where gas prices are topping $6 a gallon, you see the steepest beer sales deterioration. And Arizona and Texas also post a notable decline." (00:50)
"People tend to spend when they're on the road, but not when the wallet's empty after a fill up at the pump." (00:44)
"Higher fuel costs may be squeezing discretionary spending and impulse purchases tied to commuting." (00:50)
Discretionary spending habits are shifting; gas takes precedence over less essential items like beer.
"There was a time when convenience stores actually sold their gas at a loss, knowing most people would come into the store and overspend on items inside because it's convenient." (01:06)
This consumer behavior has shifted with inflation and rising gas prices.
"Wall Street is watching to see how the consumer holds up with soaring inflation and soaring fuel prices." (01:13)
"Which is more important, gas for the rig or a six of beer?" (00:02)
"Alcoholic beverage sales were already falling, but the recent drop is dramatic." (00:16)
"In California, where gas prices are topping $6 a gallon, you see the steepest beer sales deterioration." (00:50)
"People tend to spend when they're on the road, but not when the wallet's empty after a fill up at the pump." (00:44)
"There was a time when convenience stores actually sold their gas at a loss, knowing most people would come into the store and overspend on items inside because it's convenient." (01:06)
The episode is fast-paced, data-driven, and conversational, using direct questions and punchy fact-sharing to highlight the practical impact of inflation on everyday decisions. The core takeaway is concise and relatable: High gas prices are not just a pain at the pump—they ripple through convenience stores and affect even seemingly unrelated purchases like beer.
For ongoing updates and deeper dives, visit CNBC.com.