Americans are enjoying cheap energy with the average price of gasoline at only $1.70 per gallon and natural gas near historic lows.
In fact, Americans are spending less on energy than they have at virtually any other point in recent history.
This is good news for the economy. When the price of energy decreases, the cost of goods and services produced decline as well. Any product that is transported to market via truck or car uses gasoline and virtually every service uses electricity.Thus, low energy prices effectively reduce the price of almost everything.
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