However, recession fears kept global oil prices hovering at near $70 a barrel, according to AAA. "Increasing demand amid tighter supply would typically push pump prices higher," AAA said. "However, recent lower oil prices have pushed prices down." The rise in gas demand can be attributed to...
Between 1940 and 1941, absolute gas prices rose by a cent, but inflation-adjusted prices dropped by 2 cents. This is due to the fact that at this moment in history, inflation was rising faster than actual prices; in fact, the inflation rate in 1941 was nearly 10%. At the tail end of...