The price of gasoline has risen to $3.815, according to AAA. Four dollar gas may only be a month away if crude oil stays above $105 and the Libyan conflict continues. There are also fears that the international oil crisis could worsen if political conflicts in Nigeria boil over into crude production operations which have been shuttered in the past by guerrillas. 24/7 Wall St.
looked at factors that make gas more or less affordable by state
. They examined the average price of gas, of course. However, they also considered other factors that make fuel affordable. These included a state’s median household income, unemployment levels, and the portion of people who live below the poverty line. A state with high gas prices, high unemployment, and low median income is likely to be one where consumer spending levels are threatened.
This analysis shows the extent to which the US economy cannot be viewed as a whole–an undifferentiated collection of 50 states. Some states on this list could be tipped back into a local recession because of a combination of high gas prices and low wages.
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