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Pain in the Gas: Volatile Gasoline Prices Wreak Havoc on Household Finances

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Abstract:

Rising yet volatile gasoline prices at the pump leave Americans today paying more for gas than at any time in the past quarter-century—and leaving families unable to accurately plan their weekly, monthly, and yearly expenditures. As commutes and other drives remain fairly constant, families have to adjust to large price swings at the gas station by buying less of other items or by dipping into their savings. More stable gasoline prices would make it easier for families to plan their daily lives and expenditures, maintain savings, and likely contribute to more economic security.