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Global inflation fears as oil price rises towards $100 a barrel
(www.theguardian.com)
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this post was submitted on 18 Sep 2023
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Haven't we had oil at $100 a barrel before, and not that many years ago? And yet fuel and energy prices were lower.
It's almost as if the price the consumer pays has absolutely nothing to do with cost.
It’s actually pretty well correlated once you remove state taxes, which have increased significantly in some states like California. Mississippi gas, for example, is cheaper now than 2010, with respect to crude prices and discounted for inflation.
Gas was $100 a barrel under Bush. It was like $2 a gallon.
Dad said "Jesus criminey were not going anywhere for a week!"
V.V I paid 3.75 a gallon 3 days ago.
I remember seeing $5/gal under Bush. His last year had an average of $3.30 and peaked over $4... https://www.yahoo.com/lifestyle/gasoline-prices-fared-under-last-190000869.html
yeah gas hasn't been $2 a gallon for quite a long time in the United States
It was under $2/gal during the first summer with covid.
$2.17 briefly, when no one was driving
In the small rural town I was in it was literally a dollar a gallon. People went to buy gas just to get out of the house since everything else was being closed down.