"In January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS."..."Every 1 cent increase in gasoline decreases U.S. consumer disposable income by about $600 million per year."
2/13/12, "Bumpy Ride Ahead: Gas Prices May Soon Hit $4 a Gallon," ABC News
"Gasoline prices could soon hit $4 a gallon, a threshold they haven't flirted with since last spring.
The average price paid by U.S. drivers for a gallon of regular now stands at $3.52, according to the U.S. Energy Information Administration, which released its latest figures this afternoon. That price represents an increase of 0.04 percent from a week ago and 0.38 percent from a year ago.
Experts expect prices to spike another 60 cents or more, with the $4 mark being touched—or exceeded—sometime this summer, probably by Memorial Day weekend, the peak of the summer driving season."...
---------------------------------1/20/12, "Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent," CNS News
"When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the Bureau of Labor Statistics. The figures are in nominal dollars: not adjusted for inflation. Five months later in June, unleaded gasoline was $2.26 per gallon, an increase of 26 percent. By December 2011, the price of regular unleaded gas per gallon was $3.28,
- an 83 percent increase from January 2009.
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7/23/11, "Could U.S. Gas Prices Rise Above $5 Per Gallon?" IBTimes (International Business Times)
Citation at top of this post (re: each one cent increase in gas prices) is in parag. 5
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