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Charts - 2009 - Inflation Adjusted Gasoline Prices
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Gasoline
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Historical
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"One positive outcome of
the
financial crisis was that gasoline prices did plunge from their record
highs – down 60% peak to trough. Beginning at the end of 2008, however,
gasoline prices have surged and are currently 61% above their December
2008 lows.
Today’s chart provides some perspective on the recent spike with a long-term view of the average US price for a gallon of unleaded gasoline. It is interesting to note that most gasoline price spikes were a result of Middle East crises and often preceded or coincided with a US recession. So while gasoline prices are currently well below the record high levels of 2007, this recent rally has brought prices to a level well above what was witnessed from 1984-2004 – a two decade span of relative energy price stability."  |
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