Comment by carefree-bob
12 hours ago
Gas is certainly bifurcated. The west coast is paying up to $5.80 and Texas/midwest are paying $3.20 or so. NY and New England is paying a lot, but from Virginia on down, they are paying less. All the midwest is paying close to texas prices except Illinois, which is paying California prices.
Some of that is differences in taxes, but some of it is due to getting gas from different sources. If we had a pipeline from Texas to CA, there would be less bifurcation.
In terms of food being bifurcated, that too is happening, but to a smaller degree.
Basically the entire West coast is suffering from high inflation.
For the national 3% average to hold, for the low end of my range (30%) to hold on the west coast, the rest of the country would have to be suffering from deflation.