Gasoline Hits Record Highs; No Story to Report
July 30th, 2006 | by Craig |At least, that’s what I gleaned from this story.
(Nota bene: The article doesn’t mention any adjustment for inflation. That’s a key word, kids. Whenever someone says something is reaching record highs, make sure they are adjusting for inflation.)
So, the price may or may not be a record high, but the point is: it doesn’t seem to have much affect on whether or not people are traveling.
They seem to be making substitutions though, as the article says, “[V]acationers are finding ways to economize, sometimes in food and lodging choices.”
Which, as an occasional vacationer, I must say, has always been the case.
One Response to “Gasoline Hits Record Highs; No Story to Report”
By Walter Greenspan on Jul 30, 2006 | Reply
In order to make a fair historic comparison, then one should compare, after adjusting for inflation, the retail cost of gasoline per 100 miles driven.