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Entries in Prices (2)

Tuesday
Nov222011

Expensive Turkey Day: Travel and Food Costs Up from Last Year

Stockbyte/Thinkstock(NEW YORK) -- With 42 million Americans planning to travel this week for the Thanksgiving holiday, many are in for a big surprise, because the cost of celebrating Turkey Day has shot up.

The typical family looking to travel this holiday season will see hikes in airfares, gasoline and even the traditional Thanksgiving bird.

For the family that thinks they’ll save a bundle by driving to the family feast, taking the car might be the wrong choice -- gas prices have risen about 50 cents per gallon from last year’s rates.

And flying doesn't fare much better -- airfares are up more than 10 percent from last year.

Jeanenne Tornatore, senior editor for Orbitz.com, said the smart action to take -- as usual -- is to book in advance.

“Typically, as you get closer to the holiday period, the travel prices do increase, because it is such a compact travel weekend and travelers are going to be traveling over such a short period,” she said.

Those looking to stay at a hotel will be hit too, with hotel prices up nearly 5 percent from 2010's prices.

But even if you choose to avoid traveling, you still won't escape added expenses.  The Farm Bureau estimates the cost of the classic Thanksgiving dinner is up 13 percent from last year.  The cost of a turkey is now up $3, pumpkin pie is up 41 cents and stuffing is up 24 cents.

The reason being: rising fuel prices. The cost of gasoline ultimately affects everything that gets transported to store shelves.

Copyright 2011 ABC News Radio

Thursday
Apr212011

DOJ Launches Group to Combat Oil, Gas Fraud

Chris Hondros/Getty Images(WASHINGTON) -- Attorney General Eric Holder has announced the creation of a working group to watch for any illegal activity in the energy markets that could impact the price of gas around the country.

The group will keep its eye out for any evidence of manipulation, collusion, or fraud, “to safeguard against unlawful consumer harm,” the Justice Department said in a press release Thursday.

“We will be vigilant in monitoring the oil and gas markets for any wrongdoing so that consumers can be confident they are not paying higher prices as a result of illegal activity,” said Attorney General Holder.

The panel will include Justice Department officials, as well as representatives from the Federal Trade Commission and the Commodity Futures Trading Commission, which regulates the oil markets.

Copyright 2011 ABC News Radio







ABC News Radio