Here’s something to keep in mind in the context of the past several years, as well as during the current runup in gas prices: They’re more than likely higher than the press’s reported “national averages.”

On Friday, the Associated Press reported the following concerning gas prices: “The national average is $3.64 a gallon, up a cent and a half from Thursday, with the highest prices in California, the Northeast and the Midwest.” It would appears that the press typically uses GasBuddy.com for its national average quote, which is currently just above $3.68. I really don’t intend to knock the web site, whose primary mission is to help consumers find the cheapest gas prices in their neighborhood. But their quoted “national average” appears to really be the average of each of the 50 states plus DC giving each state equal weight, without any accounting for states’ widely varying populations. And yes, the difference matters by enough that it’s worth noting…

Continue reading →