California once again has the highest gas prices in the Lower 48 states, at about $3.27 a gallon. In total, 26 states plus the District of Columbia have gas prices exceeding $3 a gallon, while Colorado has the lowest average gas prices, about $2.75 a gallon. The rise in gas prices coincides with a rise in crude prices, which recently topped $90 a barrel...another high not seen since October 2008.
Meanwhile, the Federal Reserve continues to fear, they tell us, disinflation:
Longer-term inflation expectations have remained stable, but measures of underlying inflation have continued to trend downward....To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November.
(AAA's Daily Fuel Gauge Report is updated daily and is the most comprehensive retail gasoline survey available. Every day over 100,000 self-serve stations are surveyed.)
& interest rates went up, not down.
ReplyDeleteThe Fed is an utter and absolute failure - on every front. The only given is that they will screw things up.
In terms of honest money, like silver, gasoline prices are cheaper than they've almost ever been. Silver is now at $29.50 per ounce. The pre-1965 dimes have .0723 ounces of silver. A U.S. silver dime is worth $2.13 Federal Reserve Notes. At $3.25 (FRN's) per gallon, it takes just slightly over 1.5 silver dimes to buy a gallon of gas. That's only 15 cents per gallon (in honest money).
ReplyDeleteI recall gas as low as 16.9 cents, including I believe about 7 cents of road tax, per gallon, during periodic "gas wars" in the 50s and early 60s. Generally, however, prices have increased about 10 to 1 since the silver was removed from the coinage.
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