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Thursday, June 30, 2022

Daily Money: Gas prices drop, fireworks prices shoot up for July 4th

Today, we have good news for July 4th road trippers, bad news for fireworks customers and a potential fix for the affordable housing shortage. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Thursday, June 30

Good morning, Daily Money readers. It's Jayme Deerwester with you on this Thursday.

Finally, some good news to report: Fourth of July travelers will have some relief at the pump, although gas prices are still at levels never before seen for the holiday weekend. The national average for a gallon of gas is $4.86, according to AAA. That is 26 cents more than Memorial Day weekend prices, but it reflects a decline in prices in recent weeks.

Don't expect it to last, though: "Little bouts of relief here and there are going to be common this summer, but we may not also be done with the fireworks yet," Gas Buddy petroleum analyst Patrick De Haan tells USA TODAY.

Speaking of fireworks, the shortage that has plagued shoppers the past two years seems to have run its course, but the industry isn't done with supply chain issues. Experts warn that an uptick in shipping rates, raw materials and labor costs spurred by the COVID-19 pandemic has resulted in a steep price hike for fireworks this year. 

"I would say from 2019 till '22, items' (costs) have at least doubled," estimates Bruce Zoldan, president and CEO of consumer fireworks distributor Phantom Fireworks.

More stories you shouldn't miss

Does Bed Bath & Beyond have a future? Retailer's outlook unclear after removal of CEO, declining sales.

What stores are open on July 4th? Here are the hours for Walmart, Costco, Target.

Hospitals slow to publish prices. Why many aren't getting on board with new transparency law.

Ranking America's 50 best pizza joints: New York has nine of them.

Taco Bell Big Cheez-It Tostada: Fast food chain testing new menu item.

Affordable housing solution could lie in 3D printers

Homebuyers facing skyrocketing prices are looking for alternatives to traditional homebuilding that are both sustainable and more affordable. But an alternative is edging into the homebuilding environment: 3D printing, which contractors see as a potential solution to supply chain issues and affordable housing.   

Here's how it works: A factory houses giant printers that use a special concrete mixture. The machines layer the materials on top of each other to create walls and ceilings. The components are then shipped to the site where the house is assembled with its amenities and hook-ups, with minimal waste – all for nearly half the cost of traditional home construction.  

"Because the process is so outdated, it takes so long to build a traditional wood-frame house, and we're not building fast enough to meet the demand," says Basil Starr, the CEO of Palari, a California-based developing company using its home state as a test-run location due to its strict building regulations and its urgent need for housing.

🎵 Mood music 🎵

Earlier this week, I was reporting this week on whether the mustard shortage currently plaguing France will impact the U.S. – and as someone who puts it on both her burgers and her fries, I'm relieved to say it probably won't. But it put a certain Jimmy Buffett song stuck in my head:

"Cheeseburger in paradise. Medium rare with Muenster'd be nice. Heaven on earth with an onion slice. I'm just a cheeseburger in paradise."

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. It even comes with its own Spotify playlist a listen. It features every song quoted here.

Follow Jayme Deerwester on Twitter – or Instagram, if you prefer puppy pictures. (Why? Because everybody loves puppies!)

Gas prices are listed at over 6 dollars per gallon in Los Angeles, California on June 22, 2022.
July Fourth gas prices: Prices dip ahead of the holiday weekend
Gas prices have been declining for weeks, giving travelers some relief as they prepare to travel for the Fourth of July.
Firework prices are up this year thanks to supply chain issues
A kids sits onto of a jungle gym near the Hal Brad
What stores are open, closed on the 4th of July?
Walmart is one of the major retailers that will be
3D-printed homes: Possible fix for affordable housing crisis?
Habitat for Humanity Central Arizona's first 3D pr
Mustard shortage: Why is it happening? Will the US feel it?
A variety of mustards appear on a grocery shelf in
CEO removed, sales on decline: Does Bed Bath & Beyond have a future?
The exterior of a Bed Bath & Beyond store.
Hospitals slow to disclose prices under new federal law, study says
The U.S. health care system operates differently f
Taco Bell testing menu item that includes giant Cheez-It
Taco Bell's Big Cheez-It Tostada.
See the top 50 pizzerias in the US, ranked by Italian experts
Una Pizza Napoletana's margherita pizza. The New Y
FTC sues Walmart for allegedly not stopping scammers' money transfers
Walmart store sign and logo
 

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