Rough Drafts

Cheap gasoline.

I can’t figure this out. With crude oil prices almost at a record-high $50/barrel, you’d think gasoline prices would be shooting up, too. But they’re not. In fact, the price of gasoline remains at historically low levels, when adjusted for inflation. (See graph of gas prices). The Big Picture explai
Dylan Tweney 1 min read

I can’t figure this out. With crude oil prices almost at a record-high $50/barrel, you’d think gasoline prices would be shooting up, too. But they’re not. In fact, the price of gasoline remains at historically low levels, when adjusted for inflation. (See graph of gas prices).

The Big Picture explains that gas prices typically lag behind crude oil prices by 3-6 months, so our prices may still reflect the low $30/barrel crude prices from May. But look at these charts of crude oil and gasoline prices. Crude is still going up … but gas is going back down.

Could this have anything to do with the upcoming election? After all, a sharp rise in gasoline prices would make many people doubt that the economy is doing well. And the president is nothing if not a very good friend of the oil industry.

Share
Comments
More from Dylan Tweney - Storylines
Rough Drafts

Fifth Sun

Fifth Sun: A New History of the Aztecs by Camilla Townsend Camilla Townsend has pulled off a remarkable magic trick in this book, reconstituting the Mexica empire with an amazing level of detail and sensitivity. It makes the Aztecs feel like a real people, with a vibrant and complex culture, instead
Dylan Tweney 1 min read

Storylines

Subscribe to my newsletter on writing & storytelling

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to Dylan Tweney - Storylines.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.