Heard on the Street: Costlier visits to the pump are starting to hurt U.S. cigarette sales
Major tobacco firms may have to tolerate market share losses to keep their investments in smoke-free products on track
Commodity prices are hot right now. But the prices investors are paying in the open market for commodities like coffee, copper or corn can have little to do with the price customers pay at the store. WSJ’s Dion Rabouin explains. Illustration: Adele MorganSmokers have puffed their way through multiple hikes in the price of a pack of cigarettes over the past two years. What is happening at the gas pump may soon force them to cut back.
The volume of cigarettes sold in the U.S. over the four weeks through March 26 fell 9.4% from the same period last year, data from Nielsen shows. This is a deterioration from February’s already weak volumes, which slipped 7.9% year-over-year.
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