The price of a gallon of gasoline at the pump increased by 10 percent at the same time that the inflation rate was 15 percent. The nominal price of gasoline and the real price of gasoline .

Increases ; Decreases

Explanation:

Since the current selling price of a gallon of gasoline increased by 10%, coupled with a 15% inflation rate, there is a shift in the real value of gasolin in terms of some other goods (relative price). Therefore there's is a decrease in it's real prices. The nominal price is the money value. It thus increase due to the inflation and increase in selling price

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