Walmart Slashes Gas Prices by 10 Cents a Gallon

Wal-Mart Gas stations
Wal-Mart Gas stations

Wal-Mart Stores Inc.is cutting gas prices by 10 cents a gallon for three months to help consumers worried about their spending amid a sputtering economy and busy summer travel season.

"Our customers have told us that high gas prices are a top budget concern, nearly as large an expense to their households as food and groceries," Chief Marketing Officer Stephen Quinn said in a statement.

Wal-Mart is well aware that rising gas prices and other household costs are squeezing shoppers' budgets, reporting at its annual shareholders meeting earlier this month that shoppers appear to be focusing on groceries and little else.