Looks like nobody is driving anywhere these days…
The price of oil and gas is collapsing.
Is this the End of Inflation ?
Maybe.
Maybe not. Who knows…. Who cares.
Good time for a cross country road trip.
Source: https://www.gasbuddy.com/charts
Latest News : https://www.cnn.com/2022/08/04/business/oil-prices-selloff/index.html
Collapsing? The average price of gas in January 2021 was about $2.21 / gallon. Previous record territory before 2022 was in 2012 and it was $3.65 then. At still over $4 I think it is a bit early to use words like "collapsing". Let me know when it drops below $2 then we'll talk. Correction? Maybe...