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/
Sam Coradetti@pkrugman Here are two versions of that plot that include federal estimates of rural vs urban driving patterns (more rural miles driven) and average fuel efficiency for sedans vs trucks since 1980 (EPA data). The cost burden for rural pickup drivers is about twice urban sedan owners. Both groups likely saw the highest monthly sticker price for gas they have ever seen this summer, but adjusting for wages they experienced a longer, more expensive periods either side of the great recession.
