Fwd: [BATN] Bay Area gas at record high; experts cite ethanol
Joseph S Barrera III
Thu, 13 Mar 2003 06:35:24 -0800
Russell Turpin wrote:
> 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?
I understand your point, but a price is a price, and an
inflation-adjusted price is a bit of an abstraction.
Sort of like asking whether the cheese on the counter
is REALLY the moldiest it's ever been, adjusting for
how many days it's been on the counter, or if it's JUST
the moldiest it's been in terms of absolute grams of mold.
In other words, unlike, say, Peruvian Soles, 1980 dollars
and 2003 dollars are actually the same currency.