Higher Gasoline Prices: Temporary or Time to Buy a Hybrid?

Drivers may wonder whether the most recent spike in gasoline prices is temporary or will be longer lasting. Will prices eventually decline"maybe even to below $3 per gallon? Or is it time for drivers to alter their driving habits, maybe by buying a hybrid car? Be sure to read the September 2012 issue of Page One Economics Newsletter ""Higher Gasoline Prices: Temporary or Time to Buy a Hybrid?""for a discussion of factors that might influence that decision.
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Fed in Print: An index of the economic research conducted by the Fed.