Gas prices with inflation

[Gun guru]

After thinking for a while......If gas was 25cents per gallon in 1973 and inflation has averaged 5-6% for the last 35 years then the price of gas should be about $2-2.50/gallon in inflation adjusted prices.
Basically, the price would double every 10 years or so from 1973 So in 1985 it should be 50 cents, in 1997 1 dollar and in 2008 it should be 2 dollars.
So yes we are getting ripped off by the OPEC criminals and raped by the oil executives.
I started driving in 1985 and gas was about $1/gallon or a little less.
Then it was $1.20-$1.30/gallon for over 10 years then in 2001 it jumped up to $1.75 and now it is almost $4/gallon.

 

[Anonymous-0]

We pay now in MONTREAL $1.39.9 litt.

 

[Pair-a-dice farms]

Why not start back in the 40's or even the 20's? How would it calculate? In 1940 gasoline was $.18, using your formula in 1950 it should have been $.36, 1960 $.72, 1970 $1.44, 1980 $2.88, 1990 $5.76 2000 $5.76 and 2010 $11.52. Of course if you used this formula the average wage in 2010 should be $243,200. When gas spiked in 1979 during the Iran hostage ordeal gas jumped to $1.35 in Arkansas. Who Knows what it will do now?

 

[old]

Face it the big guys just want to hold down the little guys. People that have money don't care how much it hurts the little guy. People with the min. wage jobs keep going deeper in dept. or go with out
Hobby farm

 

[Pair-a-dice farms]

That's the reason I worked hard and got something better than minimum wage

 

[John730D]

Gas was $1.38 in 1979. According to the Government's inflation calculator, it should be $4.08 today.
Poke Here

 

[Spook]

Interesting calculator. My wages beat inflation by a little bit, but not by much.

 

[trucker40]

That would be if things worked that way,which they dont.Back sometime when I was in grade school about 1960s sometime maybe early 70s they came up with a way to refine oil faster,then in the 70s they found a bunch of oil in Alaska.Every time they come up with something that should lower the price,it goes up instead.Oil companies find billions of barrels of oil,price goes up.Every other type of business you get into,with more product,the price goes down.Something crooked is going on here.
Now they are trying to break us or ruin the dollar,something,maybe force us into a North American Union,or they are just stupid.I am leaning towards stupid given the record so far.Under Nixons administration,and a lot of people from his administration are in this one,our country was dragged into inflation,fuel"shortage"and I cant remember what all they were saying we were having a shortage of,coffee was another one maybe.If you look in books or on the internet that give the times then an honest report,it is about the same thing,a manufactured problem that was never there in the first place.This batch of crooks thats in there now have been there too long,and they are all buddies.They get on TV or the news and act like they hate each other,then go have drinks together afterwards.They get worse all the time,and should never have got away with it this long.They dont like poor people.Poor people cost them money.They must be getting more greedy in their old age because they already have nearly all the money anyway,now they want more from the hard working people that make the country work.A lot of it has to do with profiting off of war,and a lot has to do with greed,and a lot has to do with being like bullies,and stupidity.Its a good thing people like that are stupid,because its easier to beat them when the uprising against them comes.

 

[Anonymous-0]

So did I. Right out of high school- while farming too- I went to a trade school 35 miles away twice a week for 4 years and got a journeyman's card. Had a good job for a while, then factory closed. Nothing good happening around here, just more factories closing. The ones that are left only want to pay around $9 an hour and with minimal insurance. That doesn't begin to keep up with inflation. Glad I'm at retirement age, I think things are gonna get tough.

 

[Anonymous-0]

Oil a year ago at $40 a barrel gas $2.00 a gallon ...oil now 120+ should gas not be 3 X more.....$6.00

 

[old]

Ya thats fine for you but theres 1000s of people that have the min. wage type jobs. Me I'm retired and of course the gas prices hurt me real bad because S.S. does not go up much each year but all the other stuff does. Some how a 3% raise doesn't cut it when gas jumps buy 33%.

 

[BillinCentralMO]

The fuel prices are definitely outrageous. I'll say this though. My Suburban is a flex fuel vehicle (2004). I am liking thie E-85. It's 20 percent cheaper. Mileage goes down about 8 pecent but it is still a savings. Also prefer to burn that corn instead of the Arabs blackgold. It's hard to find though . Only a few outlets here.

 

[Earl -IL]

Gas in Mahomet, Illinois $3.899,I heard Bloomington ,IL. was $3.95

 

[Pair-a-dice farms]

When I got out of high school I tried to join the military but because of my knees I couldn't pass the physical. I worked 2 minimum wage jobs, sometimes working over 100 hours a week. I saved up enough to make a down payment on a cattle farm and built up a herd of over 100 head. In 1984 prices fell and I barely made it out with my credit intact. I had to sell the farm and went back to a regular labor job working a minimum of 60hrs a week. It took 16 years of working up but I raised a family and in 2000 bought the farm I am on now. I should be out of debt in 3 years. I wasn't good enough for the military and that's fine but my point is if a person has the drive anyone can make it. I know you don't fall into this catagory but I simply loath anybody that whines and says they can't do better.

 

[old]

I agree with you but the sad thing is theres so many people like me and the older ones that have to live on S.S. and its really hurting them. I went from a $50 and hour job to being disabled and now live on less then $1000 a month and when it takes $100 to fill my gas tank it hurts big time. I do what I can on the side to make a few extra bucks but again because of fuel prices that has slowed down to almost a stop also. Getting hard to even sell a tractor any more because it costs way to much to drive to pick one up

 

[Anonymous-0]

Goldman Sachs expects crude to rise to $200 a barrel . I am in the uk, my.wife's car , a volvo estate does 64 miles per (uk) gallon on a long run at under 60 mpg The USA comprise 10% of population and use 25% of global energy. Reduce demand and prices will fall, and so will trade deficits . I am a big fan of Deere tractors eg ,4430 4230 , last forever but guzzle fuel.

 

[CJ3b_jeep]

Perhaps we do use quite a bit more fuel than other countries, but you have to think of how large a country this is, how populated it is, and how little public transportation infrastructure is available. If I could hop on a train for $3-$5 and get to work in a reasonable amount of time I would. We have buses here, but the wife and I figured it out, it would take just over two hours to get to work, in what I can drive in 35 minutes.

 

[buickanddeere]

Check the Nebraska Tractor tests for those JD's. They are not fuel hogs.
Even an efficienct engine making 100-125HP is going to use 6.8 to 7.4US gallons per hour.

 

[Anonymous-0]

We are now paying for about ten years or so when oil stayed flat and even fell significantly in price. (the 1990's). I remember about ten years ago, I pulled up to the station nearest my house and filled my commuter car up. The ticket came to about 7 dollars. I looked and the price per gallon was 79 cents. I remember thinking that I'd better enjoy it while it lasted. I guess it all evens out in the end.

 

[Don L C]

I sure didn't see 25 cent gas in '73.......Don

 

[Don L C]

Cincinnati;
Gas $3.949
Fuel $4.459

 

[Don L C]

Cincinnati;
Gas $3.949
Fuel $4.459

 

[Jeff-oh]

In the summer of 2006 I went to N. Ont. and US gas prices were $2.30 Prices North of the border were $.91 /liter.

Now US gas price is up 72% at $3.95. while Canadian price is up only 56%.

Then again the US$ was worth 1.25 Can$ and now the Can$ has strengthend to 1 to 1 .... just checked 1$us = $0.99 Can$.

Thus... $.91 can$ was equivl. to $.73 US$. So with the currance exhange inplace Canadian fuel prices are up a relative 96% to the US consumer... Its painful all over.

 

[Don L C]

The SS raise each year is to cover the cost of Medicare......

 

[old]

Thats about the truth of it. They would cahge the system is the people in gov. had to pay into the system and then draw from it