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The Ugly Politics of Higher Gasoline Prices
The impacts of higher oil and gasoline prices are beginning to ripple across the economy. Wells Fargo Economics reported today that higher energy prices increased the producer price index (PPI) by 0.4 percent in February 2012 which was the highest monthly gain in the PPI in five months. Wholesale gasoline prices were up for the second-straight month, increasing 4.3 percent, home heating oil was up 5.3 percent and residential electric power prices increased 0.6 percent.The growth in domestic natural gas production from shales has decoupled…Read more...
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