Questions about Gasoline prices

I don’t understand gasoline prices. When they kept going up the prices of everything else went up too. After all gasoline and crude oil are used to produce and to transport everything we consume. Now that the price of gasoline has gone down businesses are no doubt experiencing higher profits because they are not lowering their prices. I am not really complaining because I benefit from lower gas prices and so does my business but the next time those prices go up even a little there are likely to be price increases at the grocery store and every place else.

The down side of lower gasoline prices is that they are likely to go back up making everything else more expensive than it is now. You know I am right even though it sounds silly.

Here is a chart of Twin Cities average gasoline prices over the last three years. The data is on the web site.

chart of gas prices
twin cities average gasoline prices
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