Faculty News | | 04 May 2011
Pain from increased gas prices is mostly mental
Re: John T. Gourville
John Gourville: You know, the idea of spending $40, $50, $60 at the pump seems outrageous. But let's do the numbers: The average driver fills up about once a week. So every time the price of a gallon of gas goes up a dollar, it costs an extra $10 to $15 to fill the tank. So I think the actual increase is less than people's response to that increase. And I think it's because with gas prices, it's right in your face.

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