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Gasoline: Painful, and getting worse
By: News Bites | Submitted on: 03/12/08(SGT NEWS BITE) - So gasoline prices are at an all-time high. But after adjusting for inflation, rising incomes and better fuel efficiency, how bad are they really?
The experts' answer: Bad. Nearly as bad as they've ever been, and not likely to get better anytime soon.
Adjusted for inflation, gasoline at $3.227 a gallon, according to AAA, is still about 18 cents below its peak of $3.405, set in March 1981, according to the Energy Information Administration. And Americans are spending about 6% of their total disposable income on energy, down from about 8% in 1982.
Link to full article (opens in new window)
The experts' answer: Bad. Nearly as bad as they've ever been, and not likely to get better anytime soon.
Adjusted for inflation, gasoline at $3.227 a gallon, according to AAA, is still about 18 cents below its peak of $3.405, set in March 1981, according to the Energy Information Administration. And Americans are spending about 6% of their total disposable income on energy, down from about 8% in 1982.
Link to full article (opens in new window)
News Bites are short one or two paragraph excerpts of external news articles with links to the original source.
