Fwd: [BATN] Bay Area gas at record high; experts cite ethanol
Thu, 13 Mar 2003 12:16:29 +0000
Published Wednesday, March 12, 2003, in the Oakland Tribune:
>Nine out of 10 large Bay Area cities are experiencing the highest gasoline
>prices on record, with the average price of regular unleaded rising a
>whopping 28 cents during the past month to $2.14 a gallon
>Tuesday, AAA of Northern California said.
Is this REALLY the "highest gasoline prices on record"?
Is that measured in 2003 dollars or in 1980 dollars?
Or is it measured in contemporary dollars, which is to
say, it isn't really the highest gas price on record,
but the lowest value of the dollar on record, as
measured in gallons of gas?
The reason I'm skeptical is that oil prices, measured
in constant dollars, are still quite a bit lower than
they're high during the oil crisis of twenty years
ago. A dollar doesn't buy what it once did. People
bitch about two-dollar per gallon gas, which they use
to drive to a Starbucks where they buy a four dollar
cup of coffee.
I just hope gas figures prominently in the urban CPI.
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