5 . calculating percentage change transcript on april 1, the price of gas at bob’s corner station was $3.70 per gallon. on may 1, the price was $4.20 per gallon. on june 1, it was back down to $3.70 per gallon. between april 1 and may 1, bob’s price increased by , or . between may 1 and june 1, bob’s price decreased by , or . suppose that at a gas station across the street, prices are always 20% higher than bob’s. in absolute dollar terms, the difference between bob’s prices and the prices across the street is when gas costs $4.20 than when gas costs $3.70. some economists blame high commodity prices (including the price of gas) on interest rates being too low. suppose the fed raises the target for the federal funds rate from 2% to 2.5%. this change of percentage points means that the fed raised its target by approximately .