How High Have Gas Prices Risen Over the Years?

Consumer Energy Report ^ | FEB 27, 2012 | SAMUEL R. AVRO

[GLH3IL]

Gas prices are spiraling through the roof like never seen before. People often point to specific years that gas was so cheap, in an effort to blame politicians, Big Oil, or whomever else is the flavor of the day. Indeed, a gallon of gas was going for only a quarter of a dollar in the years after World War I, and even less than that before and after World War II.

But the key fact that’s missing from all the ranting and raving is the rate of inflation. The simple definition of inflation according to Wikipedia is: “A rise in the general level of prices of goods and services in an economy over a period of time.” Keep in mind, that at the end of World War I, average annual income was only $1,500. Currently, annual income is around $50,000.

For this exercise I plotted various sets of data in graphs — sometimes combined — based on information compiled by the U.S. Department of Energy’s (DOE) statistical office, the Energy Information Administration (EIA). The purpose of this two-part segment is to provide a clearer understanding of how much the price of gas has actually gone up relative to a family’s budget and other household costs, and most importantly, during what time frame.

[meyer]

A silver quarter is “worth” about five bucks. So the question is of course, did the price of gasoline go up, or did the dollar go down?

Given the speed at which the federal printing press is manufacturing dollars, I would say that the dollar is going down. A lot!

Inflation is the universal tax that the government is now using to fund its spending spree, and we all get to pay that one.

[thackney]

[ravenwolf]

So the question is of course, did the price of gasoline go up, or did the dollar go down?

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You are right, the value of the dollar went down. and not only that but if the 1.50 an hour back then translates to 30.00 now then i am working for just a little more than half of what i did then.

At any rate i would work for nothing for several months if i could just depend on a promise that all of the socialists and all of police state mentality people would just get out of Government and stay out.