Via, who complains that gas prices in Dallas average 60 to 70 cents less than the San Francisco area. Side benefit of overthrown oil dictators: pump prices can deflate a bit.
Remember: the oil price acts like a sales tax on consumption. To clarify this relationship we convert crude oil prices to gasoline prices and then estimate what a change in gas price will mean for the American consumer. Roughly, a penny drop in the gas price per gallon gives Americans 1.4 billion more dollars a year to spend on other than gasoline. That is a huge stimulant to the economy.
Thanks, Libya. Glad we could help.
