Other prices are also affected

Reader comment on: Baum on Oil Prices

Submitted by David (United States), Mar 11, 2011 14:56

For example food prices. A few years ago a 5 lb bag of bread flour cost between $1.50 and $2.00 and occasionally you might find it on sale for $1 to $1.25. After gas prices jumped in late 2008, the price increased by about a dollar. Now with the latest hike in gas prices the price is just above or below $3. Unlike gas prices, once a plateau has been reached, the price stays there, until it goes up. The same behavior affects many grocery items. So it isn't just gas prices.

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