October 2, 2022

CNN Frames $3. 92 Gasoline Average as ‘$100-a-Month’ Pay Raise for Americans

A CNN Business write-up published Friday directs Americans to view the mild decrease in gas prices as “ a $100-a-month raise, ” even though the national average for a gallon of regular is still a whopping $3. 92, per the American Car Association. In the piece titled “ America just got a $100-a-month raise, ” CNN Business’ s senior writer Chris Isidore  had written: […]#@@#@!!

A CNN Business article published Friday directs Us citizens to view the mild decline in gas prices as “ a $100-a-month increase, ” even though the national typical for a gallon of regular is still a whopping $3. ninety two, per the American Automobile Association.

In the piece titled “ America just got the $100-a-month raise, ” CNN Business’s senior writer Chris Isidore  wrote :

The steady  drop in gasoline prices  over the last few months provides turned into an unexpected form of economic stimulus, coming at a time once the Federal Reserve is trying to cool the economy plus battle  rising prices  with  higher interest rates.

Since hitting a  record of $5. 02 a gallon  on June fourteen, the national average cost for regular gas is certainly down $1. 10, or even 22%, to $3. 92, according to AAA. That typical has now fallen for 67 consecutive days.

Since the typical US home uses about 90 gallons of gas a month, the particular $1. 10 drop within prices equals a savings of $98. 82.  

The current average is still $1. fifty four higher than the last full day of former President Jesse J. Trump’s term in January 2021 when it  hovered   at $2. 38 per gallon. Going by the typical household use of 90 gallons per month that Isidore reported, gas is still costing United states families $138. 60 a lot more per month since the start associated with Joe Biden’s presidency.

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