My sympathies regarding gas prices in your neck of the woods.
But honestly, in my area ( Long Island ), gas prices have dropped from above $4 a gallon to my being able to fill my car for just $3.55 today.
The question is why do we not yet see a corresponding drop in inflation? ( or does it take time ? )
Average for us is $4.84 but higher in most places. Grrrrrr!
But honestly, in my area ( Long Island ), gas prices have dropped from above $4 a gallon to my being able to fill my car for just $3.55 today.
It’s in the $3.10s in Centereach. Was over $5 in many areas a few months ago. For some reason LI has dropped faster than many places, I’m not sure why.
> gas prices have dropped from above $4 a gallon to my being able to fill my car for just $3.55 today.
The question is why do we not yet see a corresponding drop in inflation?
The price of diesel is a better proxy for retail inflation, because shipping is mostly based on diesel, and the more steps in the logistics chain the more influence of diesel cost on cost of goods. There is a lag for price drops because inventory was bought at a higher price and thus higher cost is built in to existing stock.
This is not the only reason...