Consumer Price Index: Are high gas prices a thing of the past?
Christian Science Monitor
The Consumer Price Index remains unchanged for the month of November, held down by low gas prices.
Gas prices have dropped almost every day for the past three weeks, and on Nov. 12, gas prices reached a multiyear low of $3.18 per gallon, according to the AAA Fuel Gauge Report. The average national gas price this week is $3.22.
Gasoline prices, adjusted for seasonal inflation, fell 1.6 percent in November, and 2.9 percent in October, according to the CPI report from the National Bureau of Labor Statistics.
This winter will likely see the lowest gas prices since the winter of 2011-12, says Tom Kloza, the founder of Oil Price Information Service, a company in Gaithersburg, Md. “Four dollars and higher are going to be rare and represent more spikes for the rest of the decade,” he predicts.
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