Loading ...It used to be .50 to .75 cents over spot. Most houses burn a 1,000 gallons a year. That’s $5,250 for the winter. $5.25/gal sounds crazy but its about right.
The price must have been suppressed, (like AU AG) or held lower than inflation somehow. Because I remember long ago 1970s .28 cents per gallon. Times X 20? $5.60/gallon. A slice and a Coke was .25 cents, gallon of gas .25, pack of cigarettes .25cents.
So in reality, if prices were below the inflation curve, and then rebound TO the inflation curve, its not really NEW inflation. It like catch up inflation. And let me tell ya.
People working in supermarkets and everywhere else at $15/hr divided by 20 are making .75 cents per hour in old dollars, when old low minimum wage was $2/hr. (s/b $40) If the wages jump the dirt bags media that educates the public for free, will say wages are causing inflation, a “wage price spiral”.
Its all more evidence of reality or normalcy coming back from ab-normalcy.
Abnormally flat $20/bbl Oil chart until 9/11. People were making about $200/week early on or earning 20 bbls a week, ($1700/week $88k/yr today at $85/bbl) How can a price stay flat when everything else like houses taxes and rents and postage stamps gradually climbed? A freak? Or artificially derived futures prices. The Arabs were complaining about that recently.