Record Breaking Increases in Motor Fuel Prices in 2022
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2022-08-18
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Abstract:From January to June 2022, the price of regular motor gasoline rose 49% and the price of diesel fuel rose slightly more at 55%. Fuel prices have risen since declining in early 2020 during the economic recession and the period when many states adopted stay-at-home orders in response to COVID-19 (figure 1). Fuel prices declined from June to July 2022 but remain more than twice as much as their level in early 2020.
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