Will food prices double and triple this year, when gas goes over two bucks a gallon?
Food prices have already been going up since January. Because I am raising two kids on my own I am very aware of prices, especially groceries. I have noticed a steady rise. Will they double and triple, hopefully not. But they have been going up. A few cents here and a few cents there can make a noticable difference in your weekly food bill.
I just wanted to ask: are you located in the midwest? because the astronomical gas prices we are experiencing here are apparently localized (the Man sez it’s because of a ruptured pipeline in Michigan… yeah right).
The cost of food prices would double only if the cost of the food was 100% related to the cost of gas. I would guess that in a $4 box of cereal about 50 cents of the cost is fuel related. (I have no idea of the actual costs. I’m guessing.) So a doubling of fuel costs should make the cereal cost $4.50.
Chicago gas is $2.19 at the cheapest gas station. Its a product of the fine stew that is the OPEC trust, all sorts of local and fed taxes, and a supposed shortage of reformulated gasoline.