CNN's Lee Pumps Up Gas Price
Gas prices are on the rise again, but are they really just one penny below âall-time highs,â as CNN business reporter Carrie Lee suggested recently?
âUp 11 cents a gallon over the past two weeks,â Lee reported on the July 10 âAmerican Morning,â citing a Lundberg survey noting that the $2.995-a-gallon cost was âjust less than two cents below the all-time high set last year during Hurricane Katrina.â A minute later Lee said it was âabout a penny off from the all-time high.â
Taylor and Van Doren wrote that when adjusted âfor the change in disposable per capita income, prices would have to be $4.30 today to have an equivalent impact.â
Simply put, concluded Taylor and Van Doren, âAmericans are still, on average, economically ahead of the game.â