Friday, September 14, 2012
(CNSNews.com) – Average retail gasoline prices have more than doubled under President Obama, according to government statistics, rising from $1.84 per gallon to $3.85 per gallon.
The average gasoline price is calculated by the Energy Information Agency, and shows that over the past 43 months of President Obama’s term retail gasoline prices have more than doubled, rising from an average of $1.84 per gallon to $3.85 per gallon.
Rising gasoline prices were particularly prevalent in August, which saw a 9.0 percent rise in the Consumer Price Index (CPI) for gasoline, a rise that almost entirely accounts for the general increase in prices seen by families across the country over the past month.
In other words, the recent spike in prices for all goods – tracked by the government’s Consumer Price Index – can be almost entirely accounted for by the rise in gasoline prices. Prices in the economy rose by 0.6 percent overall in August.
This article was posted: Friday, September 14, 2012 at 10:14 am