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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: greatplains_guy who wrote (62072)	2/5/2013 4:19:39 AM
From: Hope Praytochange	1 Recommendation Read Replies (1) \| Respond to of 71588

Speaking of refining there was a story out today saying the cost of gasoline is a record % of people incomes. That may come as a surprise to those who were around in the 1970s but consider for a great many people in this country their incomes have not advanced much, especially adjusted for inflation, in the past few decades while inflation continues to eat away at purchasing power. The U.S. Energy Information Administration reported Monday that gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4 percent of income before taxes. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount. Gasoline prices averaged $3.63 a gallon in 2012, according to EIA.