Gas Pain. (cover story)

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  • Source:
    Current Events. 11/11/2005, Vol. 105 Issue 10, p1-448. 3p. 2 Color Photographs.
  • Additional Information
    • Subject Terms:
      GAS prices; PETROLEUM industry; UNITED States economy; PRICE inflation; WAGES
    • Subject Terms:
      UNITED StatesReport Available
    • Abstract:
      The article reports that price of Gasoline and Heating Oil is hurting the U.S. economy. Recently the average price of a gallon of regular gasoline in the United States stood at $2.74--almost double what it was in 2003. And economists predict that the price will continue to trend upward. Moreover, the price of heating oil this winter is expected to be at least 30 percent higher than last year's prices, especially in the U.S. Midwest. All that is not good news for the U.S. economy. Raising prices causes inflation, an economic condition in which prices in general rise, causing pressure to increase wages and salaries so that people can afford to pay the higher prices.