Gas Prices: One Less Political Worry

Photograph by Justin Sullivan/Getty Images

A gasoline delivery to a station on June 12, 2012 in San Anselmo, California.

Median income. Mortgage foreclosures. Unemployment.

There are all sorts of economic indicators.

Yet the one most visible to most people is attached to the other end of a debit card at a gas pump.

And a few days into the official start of summer, the average price of a gallon of regular gasoline still is dropping.

It’s $3.41, according to the AAA national survey of more than 100,000 gas stations.

That’s down from $3.50 a week ago, $3.65 a month ago.

It’s not the $2.50 that at least one politician was promising heading into summer. Yet it’s still well below the highest recorded average price for regular in the U.S.:

$4.11 in July of 2008 — which was another summer heading into a presidential election.

That year, there was no incumbent on the ballot.

This year, it’s the other economic indicators that the incumbent probably worries about most.

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