Gas prices have ticked up each of the last two weeks. That’s too bad because many Americans will be taking their cars on vacation this time of year. Around 77% of Americans planned on taking a vacation this summer, and 56% of those Americans planned on driving to their vacation destination in the family automobile. But eating into the family fun is the price of gasoline. You can see on my chart that after trending down for 12 weeks in a row, the last two weeks have seen increases in the average price. Tensions in Iran and the continuation of loose monetary policy at the Federal Reserve are serving to prevent prices from falling further.
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