While Nevada’s residents and visitors have faced rising household expenses in any number of areas, many find themselves with some positive factors impacting their financial situation. Declining fuel prices and rising wages have helped offset some of the broader increases in the cost of living. Nevada’s visitors find themselves in a better financial position as national wages are beginning to improve with the reduced slack in the labor market. Some of the slack is even beginning to pick up in Nevada, where wage growth has managed to outpace the rest of the country. Overall, consumer wallets across the state are positioned for improvement and potentially ready to boost the Nevada economy.

Gasoline prices in Nevada have fallen $0.316 per gallon to an average of $3.093 over the past month, and across the country, gasoline prices have experienced a $0.285 per gallon decline during the same timeframe. The drop in gasoline prices comes as supply from Saudi Arabia, Iraq, and Libya increased. The underlying supply boosts from these countries are not likely to end quickly, which could allow oil prices to remain low for the foreseeable future.

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