From Tuesday’s New York Times:
“It clearly evokes a visceral response because we’re the only industry that has our prices in two-foot-high letters on the street corner,” said John Felmy, chief economist at the American Petroleum Institute. “We’ve seen other things go up in prices, like milk, but if you ask 10 people on the street what’s the price of milk they may not know. All of them will know the price of gas.”
I have always tracked inflation by the price of a six pack. My base is $1.25 for Coors or Bud, early to mid sixties. What is it, about $5.99 today? 7.5X
(This is less a reflection on my lifestyle than it might appear.)