How high are today's gasoline prices compared with recent history?
With overall inflation now reaching a three-decade high, Americans are worried. Despite positive numbers in job gains and economic growth, stubbornly high levels of inflation have cast a pall on the public’s view of the economy.
A particular focus of public concern has been gasoline prices. That’s no surprise.
"Gasoline prices are eye-catching and memorable," said Gary Burtless, an economist at the Brookings Institution. "Most of us car owners fill up our tanks regularly, and when we buy gas we seldom purchase anything else at the gas station. This makes...