Originally Posted by Dan Root
I'll say it again but it's about the same price as then (60s-70s) because of inflation over the past 40 years does anyone have a calculator?
Just move the decimal point in your head or don't wear your glasses!
Dan,
Here's a good comparison of "inflation adjusted" gasoline prices.
http://auto.howstuffworks.com/gas-price1.htm
Note that 2006 is the highest by a few cents/gal over 1980. 1981 had the highest prices ever, with the exception of the days immediately following katrina, but we are approaching that level right now. So by government statistics, gas does look like it's getting to be expensive.
But when you consider the point regarding true inflation numbers I make above in a reply to one of Andrew's posts, gas is still not historically that expensive.
It's funny how people will cheer for one thing like house price appreciation because it appears to benefit them but then think there is some conspiracy because the price of something else like oil that they consume goes up in price. The government can take both the credit and the blame.