The Oil Squeeze

Wal-Mart CEO: Shoppers feeling higher gas prices - Yahoo! Finance: "Wal-Mart Stores Inc.'s CEO Mike Duke says rising gas prices are hurting its main customers, who are having an even harder time stretching their dollars to the next payday than they did a year ago.

'There's no doubt that rising fuel prices are having an impact on our customers,' said Mike Duke, CEO of the world's largest retailer at an event that was part of The Wall Street Journal's executive breakfast series. 'There's more pressure.'

Wal-Mart is seeing its customers consolidate shopping trips, though they're spending more on each excursion. But shoppers are also cutting back on discretionary items, such as clothing, as their spending power erodes, Duke said."