Gas Prices adjusted for inflation.

[staythecourse]

Here's a graph of gas prices based on inflation.

Based on the graph and extrapolating out a bit to today, it looks like we are paying about $2.00/gallon in 1979 dollars or about 3 1/3 as much as then, for what that's worth.

Thoughts? Opinions?

 

[Presbyterian Deacon]

That's nice. The only problem is that my "take home pay' hasn't been adjusted for inflation. So I'm paying twice as much as I was in 1979, that cute little graph, not withstanding.

 

[Semper Fidelis]

Graph shows what I figured - that the hike in the gas prices in the 70's hit as hard (or harder) than the gas prices today in terms of household income.

 

[Semper Fidelis]

That's nice. The only problem is that my "take home pay' hasn't been adjusted for inflation. So I'm paying twice as much as I was in 1979, that cute little graph, not withstanding.

You haven't had a pay raise in 29 years?

 

[Presbyterian Deacon]

That's nice. The only problem is that my "take home pay' hasn't been adjusted for inflation. So I'm paying twice as much as I was in 1979, that cute little graph, not withstanding.

You haven't had a pay raise in 29 years?

Not exactly accurate, but I figure if you look at the rate of inflation, and the small pay increases I've had, (the difference in my pay between 1979 and now), I'm about ten to fifteen years behind inflation.

 

[Timothy William]

Cars have become both more fuel efficient for their weight and lighter for their volume/carrying capacity in the last 29 years. Much more so, in the case of fuel efficiency. Considering gasoline as an input for a final product, the ability to drive the same sized car with the same power/weight ratio, the cost of gasoline needed for the same amount of the final product has fallen considerably.

 

[Richard King]

It is all so relative.

I remember in my first year in college my roomate had a car and I didn't.

He came into the room one day and threw his keys across the room and declared ...
" Gas has just gone up to 47 cents a gallon ! They are crazy if they think they are going to get that kind of money out of me. I'll walk the rest of my life before I will pay that!"

He didn't stick with that plan.