4 ms·
I find it interesting because I would not have expected it to rank at the literal bottom of the list. Many people’s relationship to fuel price is pretty inelast
by aksss 4y ago
I find it interesting because I would not have expected it to rank at the literal bottom of the list. Many people’s relationship to fuel price is pretty inelastic, so it’s an income hit. As another said, fuel prices impact many other costs, particularly for any margin-based business like groceries. That business doesn’t pay the higher fuel bill; you do. I imagine summer may be helping blunt the impact, but gasoline avg itself is $1.60 above last year - not good. So it’s higher visibility with more immediate practical consequences than some of the other items. That’s why it’s interesting to me.
But maybe many people think exactly like you do - a 35% y/y increase to something I spend 5% of my income on directly, how bad can that be?