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Gasoline Supplies Likely to Shrink, Prices Rise… But….

USELESS TOADY [1] has an article up today taht gives us a gloom and doom

“Average gasoline prices in California and Hawaii have topped $2 for a gallon of unleaded regular, and Nevada is close at $1.968, AAA said Wednesday. AAA said regular averaged $1.681 nationwide, up 7.9 cents the last month. That’s 5.6 cents less than the record average of $1.737 reported last Aug. 30. EIA, using different data, lists the record as $1.747 last Aug. 25.”

However, a line buried in the story seems to me to place a different perspective on it all;

“Gas would have to average $2.89 to surpass the inflation-adjusted record of $1.417 in 1981.”