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This is just basic economics. There are three factors at work: supply & demand, cost of production, and inflation. So let's apply those to gasoline. Supply & demand is basic to economics. 30 years ago, there was less demand for oil. The developed world (places that had lots of cars 30 years ago) had fewer peopple - 245 million in the US, vs ...


It's always helpful to cite the sources you're looking at. When you're talking about inflation, the government publishes tons of statistics that you can rely on. There are also plenty of less reliable sites, though, either have bad data, are highlighting exceptional issues (i.e. some random commodity has seen huge price increases), or are comparing many ...

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