Monday, May 23, 2011

Gas Prices Lower TodayThan a Month Ago

The chart above from shows that the national average gas price of $3.83 per gallon today (May 23) is slightly below the price a month ago of $3.84 on April 24.  


At 5/23/2011 1:49 PM, Blogger Methinks said...

Yay. Obama has saved us.


At 5/23/2011 1:56 PM, Blogger Buddy R Pacifico said...

Interesting that the feds did not tap the U.S. strategic oil reserves. This was the recommendation by many econ pundits, to skew supply and demand.

At 5/23/2011 2:18 PM, Blogger Rufus II said...

Yep, we went from 3%+ Economic Growth at the beginning of January to, basically, "flat."

And, our reward is $3.83/gal gasoline.

Look at the end of 2007, early 2008; when gasoline goes over $3.50 the economy starts slowing. When it goes over $4.00 we're through.

The "Oh S..t" moment will be when we drop into recession, and gasoline Does Not go below $3.50. Not saying it'll be "this time," but it will happen, eventually. Could be next time.

Let me posit, this: We should no longer be looking for the "perfect" mitigation, or even a really, super-duper great mitigaion. We better be looking for the "Fastest" mitigation; because, the fact is, they All will require several(in some cases, many,) years.

At 5/23/2011 3:41 PM, Blogger Ironman said...

You're welcome!

At 5/23/2011 3:55 PM, Blogger Benjamin Cole said...

Robert Mundell, a big conservative monetarist, is now talking deflation.

Mundell won a Nobel Prize, and might--just might--not be fooled by a phoney CP.

At 5/23/2011 4:12 PM, Blogger Rufus II said...

Deflation, at a time when we, seriously, need to "grow the economy:"

It doesn't get any scarier than that.

At 5/23/2011 4:22 PM, Blogger Benjamin Cole said...

Rufus: Why fear? It means the Fed has the field wide open to go to QE3, and start charging interest on reserves, instead of paying.

The right-wing has lost its marbles, when they call for tight money in a deflationary environment.

Oil tanking today, btw.

What it means is that the Fed has lease to start a boom, and no worries about inflation.

The fear is that Bernanke is quaver.


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