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0 pointscestith9y ago0 comments

On 2001-09-11 gasoline tripled, food doubled, and bottled water as much as quadrupled or quintupled in dollar pricing in parts of the US in less than a day.

Yes, there were in fact $4/gallon, $5/gallon, and even $8/gallon gasoline and diesel prices posted, many by noon. This also increased the price of everything shipped by truck for a while, too.

Prices came off that peak quickly, but took months to years to revert completely.

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8 comments · 4 top-level

cowsandmilk9y ago· 2 in thread

That wasn't a swing in the value of the dollar, that was a swing in the value of those goods.

The price of a christmas tree drops precipitously the ~9PM on christmas eve every year, that says nothing about the value of a dollar.

dandrino9y ago

Well, to be fair, the value of the dollar is determined by its buying power. If goods widely increased in cost, then the effective value of the dollar has decreased.

Not saying that's what did or didn't happen on 9/11, though.

Hannan9y ago

Yes, if all goods widely increased in cost (or at least, most). If it's only the goods that people buy in anticipation of (e.g.) a catastrophe, or goods that rely on those aforementioned goods to be manufactured and/or delivered, then the above comment is correct.

slg9y ago· 1 in thread

Gas prices actually dropped in the months after 9/11 [1]. Any place that was charging $8 per gallon day of was guilty of price gouging. Either way, you are comparing an SEC decision to the aftermath of the largest terrorist attack in history. Don't you think the scale of these two events is a little different?

[1] - https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=E...

cestithOP9y ago

Parent post said "nothing short of a global nuclear war". Don't you think that's yet another difference in scale?

eli9y ago· 1 in thread

I don't think storing value in diesel fuel is a good idea either.

shitgoose9y ago

you'll be surprised to find out where your pension fund stores your money.

hueving9y ago

There is a difference between localized price gouging and the value globally of a dollar.

If I charge $1000 to eat a cracker from my cupboard, the value of a dollar didn't suddenly decrease by 99.99%.

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