Gasoline Nostalgia Comes to Twin Falls

When I took my current job in Twin Falls, I once saw a gallon of regular gas priced at $1.49 a gallon.  January of 2015.  I never expected to see $2.00 a gallon again, and I would settle for $3.00 a gallon as something that would make me happy.  I guess we’re now conditioned to higher prices.  Intentional or not, the Overton Window has moved.  A caller used to frequently tell me on-air that when he moved to Twin Falls in 1971, he paid 28 cents a gallon.  He probably made $6,000 a year!  My dad remembered gas being eight gallons for a dollar during the Great Depression, and then added that nobody had any money.

WE're Down Almost a Half-Dollar from the High

This Wednesday morning, I noticed the pump price had dropped eight cents since early yesterday.  It’s down almost 50 cents in a matter of a couple of weeks.  What could send it higher?  The Iranians and their allies are trying to provoke a military response before Election Day.  I guess that President Trump would like to smack an ayatollah in the mouth, but not for another three weeks.

Fuel Costs Don't Indicate a Bad Economy

There’s no easy way out.  The volatility ends when Iran is dispatched.  But even though we’ll see a drop in price, don’t expect to see numbers as we saw in February before the bombing started.  At least not for a few years.  You may not be able to see it because of a paywall, but one editor at the Wall Street Journal writes that the economy is about to explode in your favor, despite fuel costs.  But the Democrats may be the beneficiaries if they have a big turnout on Election Day.