Official government website for gasoline and diesel:

The Department of Energy has a webpage that shows prices of fuel throughout the nation and also the change over the last week and year. Check out those increases in 12 months! About 50 cents on average.

Found it via comments in Angry Bear's excellent overview on oil prices and the economy.

BOTTOM LINE: If we read Angry Bear right (actually the post was by CalculatedRisk), oil at $50 a barrel will cause a strong recession. Oil at $40 will cause a mild recession. (Prices must stay at that level for one year.)

Expect real trouble to start this summer.

posted by Quiddity at 4/11/2005 07:26:00 PM