"Unequivocally Good?" - California Gas Prices Top $3, Highest In 2 Years

If the plunge in gas prices was "unequivocally good" for Americans' pocketbooks, then we wonder what the PhDs will make of the fact that California gas prices just broke above $3 for the first time since 2015 - soaring at 28% YoY (the fastest since Q1 2011, which sparked a plunge in economic growth).

California gasoline prices at 20 month highs...

 

There's just one problem with the "unequivocal" arguments - the last time gas prices soared at this pace, GDP growth in America plunged...

 

But then again we are sure - because we don't have a PhD - that we simply don't understand the dynamics.