US Gasoline Prices UP 48% YoY In February, But Gas Prices Were UP 62% In April 2021 BEFORE Russia Invaded Ukraine

#inflation, #wine, Economy, Fed, Housing, Inflation, Natural Gas, Oil, Powell, Treasuries, Treasury, Uncategorized, Venezuela, Wages, Yellen 1 Minute

Well, so much for rising gasoline prices being the fault of Vlad “The Ukrainian Impaler” Putin and Russia invading Ukraine. In fact, gasoline prices were rising at a 62% YoY pace in April 2021, well before Russia’s invasion of Ukraine.

REAL gasoline prices (nominal gasoline prices less inflation) are up 32.72% YoY in February.

Press secretary Jen Psaki can take the opportunity to proclaim that REAL gasoline prices have actually declined in February.

Hi diddly dee, a President’s press secretary’s life for me!

I keep waiting for the Biden Administration and Congress to launch price controls and supply rationing rather than simply allow the Keystone Pipeline to be built and allow drilling on Federal lands.

Published by confoundedinterest17

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