Becoming An Eco-Driver
With the price of gas marching skyward, more of us might become eco-drivers. Based on a report from the University of Michigan Transportation Research Institute (UMTRI), here are some (slightly...
View ArticleHigh and Low Gas Prices
Why is the average price of a gallon of regular gasoline in Wyoming close to $3.36 and New York, $4.00? Location and regulation. Wyoming produces oil, it refines it, and, its taxes are among the lowest...
View ArticleHigher Prices at the Gas Pump
Sometimes 25 cents at the gas pump can make a huge difference. Economist James Hamilton explains why with his “rough rule-of thumb” correlation between the price of crude and gas at the pump. When...
View ArticleDemand and Supply: The Ethanol Mandate
Several years ago, when former Treasury Secretary Lawrence Summers walked past me, I stopped him with a question. “What is the most... [read more]The post Demand and Supply: The Ethanol Mandate...
View ArticleThe Reason the Price of Gasoline Has That 9/10
If you asked me how much I pay for gas, I would say $3.49 a gallon. Actually, though, the sign says $3.499. And that means, because the gas station rounds up, I am paying $3.50. Doesn’t $3.50 sounds...
View ArticleThe Expensive Side of (Venezuela’s) Cheap Gas
Subsidies and taxes determine the price of gasoline. Whether gasoline is cheap or expensive, its price affects people's incentives and national tradeoffs.
View ArticleUp Like a Rocket, Down Like a Feather
At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less...
View ArticleWhy New Jersey Has Lower Gas Prices Than California
Since gasoline prices vary in the U.S. because of different state taxes and wholesale crude, the impact on consumption expenditures also is different.
View ArticleRockets, Feathers and Gasoline Prices
Gasoline prices rise faster than they fall because monopolistic competition provides retailers with some price control although their product is identical
View ArticleThe Mystery of the Missing Gasoline Savings
Based on geography and demography, the impact of plunging gasoline prices varies but it is likely that we are spending 80% of it according to JP Morgan
View ArticleWhat You Might Not Know About Cheap Oil
Because markets fluctuate, oil prices will rise and fall but the consequences of cheap oil can be unexpected
View ArticleThe Gallons of Gas That a Worker Can Buy
Comparing the purchasing power for a Big Mac and a gallon of gasoline, we can form hypotheses about worker well-being in developed and developing nations. Read more >
View ArticleWhy New Jersey Has Lower Gas Prices Than California
Since gasoline prices vary in the U.S. because of different state taxes and wholesale crude, the impact on consumption expenditures also is different. Read more >
View ArticleRockets, Feathers and Gasoline Prices
Gasoline prices rise faster than they fall because monopolistic competition provides retailers with some price control although their product is identical. Read more >
View ArticleHow Much We Care About Gasoline Prices
Since one state's gasoline prices could be double what people pay in another state, we can ask if the price affects how much we purchase. Read more >
View ArticleHow Algorithms Change Gasoline Prices
Looking at gasoline prices that are controlled by algorithms, we could be surprised by how they affect competition. Read more >
View ArticleThe Ups and Downs of Gas Prices
Because our spending on gasoline is somewhat constant, gas price fluctuations can have a massive impact on what we spend elsewhere. Read more >
View ArticleThe People With the Most and Least Inflation
While monthly CPI reports emphasize the average increase in prices, we can also use it to see the differences in household spending. Read more >
View ArticleWhy Gasoline Prices Rise Faster Than They Fall
Seeing that barrels of crude oil are increasing expensive, we can ask if and how quickly our gasoline prices will respond. Read more >
View ArticleThe Death of the Pizza Principle
Since 1980, the convergence of New York City subway fares and pizza slice prices was a predictable phenomenon called the pizza principle. Read more >
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