moneymakers Posted March 31, 2011 Share Posted March 31, 2011 Gasoline up 100% under Obama Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction. Consumer price index (CPI) figures from February show an unadjusted 12 month gasoline inflation rate of 19.2%, but in the last month alone prices jumped 6.8%, probably because of oil price increases due to instabilities in the Middle East. If the trend continues, gas prices would double again within a year. 100% gasoline price inflation is nothing to brag about, but imagine Mr. Obama going into the 2012 election having to explain why gas costs $7.00 a gallon. I'm sure the White House would spin it as one of their "Green" initiatives. http://www.washingtontimes.com/blog/waterc...le-under-obama/ Wal-Mart CEO Bill Simon expects inflation U.S. consumers face "serious" inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday. The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate." http://www.usatoday.com/money/industries/r...inflation_N.htm Quote Link to comment Share on other sites More sharing options...
matt770 Posted March 31, 2011 Share Posted March 31, 2011 It won't be...shoot, how does that go? Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted March 31, 2011 Share Posted March 31, 2011 To be fair to the black guy in charge up there, gas prices spiked like this during the Bush admin (Insert "Gasp" here). I'm surprised that it took the Wal-Mart CEO this long to realize that inflation was coming along, but kudos to him for pointing it out. Quote Link to comment Share on other sites More sharing options...
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