Posts Tagged ‘OPEC embargo’

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    Higher Prices at the Gas Pump

    Aug 22, 12 • 206 Views • Demand, Supply, and Markets, Developing Economies, Economic History, Environment, Financial Markets, Households, International Trade and Finance, Macroeconomic Measurement, Thinking Economically, UncategorizedNo Comments

    Sometimes 25 cents at the gas pump can make a huge difference. Economist James Hamilton explains why with his “rough rule-of thumb” correlation between the price of crude and gas at the pump. When crude increases by $10 a barrel, then the price of