Gasoline prices took a big jump yesterday, $3.15/gallon up from $2.79 -- for once, the day after I filled up my tank -- and this morning, the Local News had to explain to us proles What It All Meant:
Higher prices at the pump, the man with the microphone said, are the price we pay for a recovering global economy. 
So, I found myself wondering, they're not the result of pumping zillions of fresh-printed dollars into the "recovering economy" and thereby making each and every one of them worth a bit less? Oooookay.
Bonus point: "Hoosiers will keep on paying for higher fuel prices even away from the pump. More on that 'trickle-down' effect coming up." See, they tolja "trickle-down economics" was baaaad! (And, natch, rubes like us could not possibly grasp that it takes fuel to move, well, everything tangible from point A to point B and we pay for the gas as a part of the price we pay for the tangible item).
(Homework for the curious: compare oil prices to gold prices in various currencies. Betcha they track, with gold generally leading).
1. Yes, you pay more. Unless you pay less.
2. Corrected mispelling "prince" to"price".
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1 year ago