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Real Time Insight

Gas prices have been rising over the past few weeks. National average for gasoline price is now ~$3.54 a gallon, up 18 cents from a week back (biggest weekly spike in two years).

Last year, average US households paid about 4% of income before taxes for gasoline, highest percentage in three decades (except 2008--when it was at a similar level).  

Gasoline prices are affected by rising crude prices and disruptions in gasoline supply. Oil prices have gone up more than 10% in the last two months as global economy recovers. On the other hand, gasoline supply has been hurt by the disruptions caused in the Northeast by Superstorm Sandy and closures of some refineries.

Rising gas prices may not have yet hurt the economic recovery but if they continue to rise, they may pose potentially serious threat to consumer spending and economic recovery in the months ahead. (Read: Pump Profits with this Gasoline ETF)

Do you think that gas prices have already started hurting consumer confidence?

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Today, you are invited to download a free Special Report from Zacks Investment Research. It reveals five moves that could gain +100% and more in the next 12 months:

One is a "boring" business delivering blistering growth. Another is a red-hot oil and gas producer set to surge on a drilling breakthrough. Still another, an online payment provider, ignited a 53% sales explosion during the past year.

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Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

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ERBA DIAGNO… ERB 3.80 +7.04%
BANCO DO BR… BDORY 14.74 +5.66%
AIR INDUSTR… AIRI 9.99 +4.15%
EQT MIDSTRE… EQM 98.14 +3.38%
WEATHERFORD… WFT 23.64 +3.10%