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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...

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High 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...

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Higher 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...

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Demand 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...

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The 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...

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The 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.

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Up 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...

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Why 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.

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Rockets, 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

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The 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

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What 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

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The 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 >

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Why 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 >

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Rockets, 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 >

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How 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 >

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How Algorithms Change Gasoline Prices

Looking at gasoline prices that are controlled by algorithms, we could be surprised by how they affect competition. Read more >

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The 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 >

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The 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 >

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Why 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 >

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The 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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