Paul KrugmanIt's Thanksgiving weekend. I'm not driving, but many Americans are, confronting gasoline prices that ... aren't all that high 1/
Taking the historical perspective, here's the gas price relative to wages, which is higher than 2014-2020, but not in a longer-term view 2/
And as some have pointed out to me, mileage has risen a lot over time, so the actual cost of driving isn't especially high at all 3/
RealGene ☣️@pkrugman My 200-hp sedan gets around 31 mpg, and since I no longer commute, gets driven 10,000 miles less per year.
As a resident of the NE USA, I'm more affected by the cost of #2 home heating oil than the cost of gasoline.