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In 1972 the average price of regular gas was 36.9¢ per gallon.
With the 655.18% inflation since then, gas should be $2.789 per gallon.
Last time I filled it was $3.159.
Corrected for inflation, gas is about 13% more today than in 1972.
The $1.199 gas of 1991 should be $2.779 gas today.
But the $3.699 gas of 2012 should be $5.089 today, so something went right and gas prices broke from the rest of inflation.
Could be because of political decisions to eliminate Federal and most State taxes from the gasoline prices to make the current regime look better.
ReplyDeleteYes, I could search a bit and post links that this happened.
Inflation numbers the most massaged "facts" known to Mankind.
The gas prices I looked up were pump prices. So taxes would be in there.
DeleteI must have been unclear. I was speaking about the elimination of Federal and State Taxes from the "Pump Prices".
DeleteAgain, for political points as it was an election year and even last year because the Potatoes popularity was sinking fast as inflation was hammering most of us.
I found photos of the prices. Taxes are included.
DeleteI didn't use the gubmint's official fuel price calculator, which does strip taxes and would compare less favorably to what I've shown here because the $3.159 was what I paid the other day and the $3.699 is what I'd paid when I'd made a post comparing fuel economy of full size cars the day I posted.