Gasoline prices continue to fall

Why there is no secret:

Source: FRED.

Gasoline prices are for the week ending 4 July. gasbuddy.com indicates that prices fell to $4.66 today from about $4.79 on July 4 and peaked at $5.03 on June 14.

Source: gasbuddy.comdate of treatment 10.07.22.

Gasoline has a weight of 3.75% in the CPI (see chart). here), but the percentage change in gasoline prices is huge, so it can account for a significant proportion of overall CPI inflation.

Futures four days ago signaled a continuation of the declineand it is relevant today, albeit at a slightly higher level (about 17 cents for the December 2022 contract).