Consumers quickly spent money saved at gas pumps

People who have saved money on gasoline since the price of oil cratered didn’t actually save money. They spent it just as quickly, a study shows.

CNBC says some of the savings went right back into gasoline; consumers increased their gas consumption by 6 percent, to 33 gallons from 31 gallons for the month on average.

But it says most of the $18 on average consumers “saved” on gasoline, they spent on junk food and online shopping. In fact, spending increased by $45 on average, CNBC says.