The Fed pushes gasoline prices even higher

Butte, Montana | As we well know the price of a gallon of gasoline keeps going up. And nobody sees an end to this surge let alone a drop in price. For just this past weekend the price of oil per barrel jumped again to an all time record high of $117.01. The New York Times commented that “what was striking about this latest milestone was what didn

You see very time the Fed lowers interest rates, it weakens the dollar and the Fed has been very active slashing these rates in order to keep the big banks afloat. That dollar devaluation then raises gasoline prices at the pump, about 8 cents per gallon per each 25 percentage point cut by the Federal Reserve.

Smirking Chimp