Will I ever get tired of blogging about gas prices? No.
In the wake of Katrina, average retail gasoline prices in the US just jumped above $3, nearly reaching their all-time, inflation-adjusted high. Two graphs tell the story. First from gasbuddy.com:
Next from the Wall Street Journal (temporary link), with a graph of inflation-adjusted gas prices since the late 1970’s (click to enlarge). It’s a few days out of date, so it doesn’t account for the most the recent price increase to $3.09 per gallon, which is what gasbuddy.com now says is the national average—roughly the same inflation-adjusted prices that caused such panic, and such a profound shift in energy consumption habits, in the late 1970s and early 1980s.
Update: More and better on the subject here. (This was posted by Clark, by the way…)
