Gov’t tells US drivers to get used to cheap gas

Associated Press ^ | Nov 13, 2014 12:08 AM EST | Jonathan Fahey

[Ruy Dias de Bivar]

***When did bacon start going for $6-10 a package?***

I just found an old newspaper from 1964. Bacon was 45 cents a pound at the local store.

[Olog-hai]

Well, they did try tolling I-80, but the federal government said “no”. But that of course is not really an excuse to raise taxes.

The new legislature is supposed to be more GOP than the last, so it remains to be seen how un-establishment they turn out.

[Democrat_media]

if you average all the taxes on a gallon of gas then it’s around 50 cents per gallon in taxes. so then like i said the price of a gallon of gasoline is about $2.00 per gallon not the $2.50 , 50 cents of which is taxes.

my main point is there are too many taxes. we need only 1 tax for all governments

[nascarnation]

Of course I was making about 2.50/hr back then too....

[Olog-hai]

That $2.50 per hour in 1964 dollars works out to $19.20 per hour in 2014 dollars, per the BLS’ own CPI inflation calculator.

Young people with bachelor’s degrees graduating today would not be making that much as starting salary/wages; they would be lucky to get $1.95/hour in 1964 dollars.

[Ruy Dias de Bivar]

WHAT? Local wage here was 50 cents an hour or less!! Agricultural.

[Ruy Dias de Bivar]

**In 1972 gas was 32 cents.***

This is correct. I remember a local station with REGULAR at 32 cents, and ETHYL at 46 cents. FULL SERVICE!

If there was a gas war the price could drop to 22-25 cents a gallon.

[nascarnation]

Maybe I was off by a few yrs.
I was definitely in the 2.60/hr range in 67 (making same as UAW guys) and transitioned to salary at 1000/mo in 70.

I bought a new 67 Chevy for 2300 bucks.

[Olog-hai]

Well, per the BLS calculator:

• $2.67/hour in 1967 works out to $19.03/hour in 2014 dollars;
• $1,000 per month in 1970 becomes $6,134.82 per month (or $73,617.84 per year) in 2014;
• $2,300 in 1967 dollars equals $16,391.36 in 2014, not quite enough to buy a new compact car with basic amenities, not even a so-called Smart Car.

Ain’t fiat currency grand?

[nascarnation]

Lots of decent cars around 16 grand and they have a LOT more good stuff than that stripper 67 chevy I had.
http://autoweek.com/article/car-news/2014s-best-bargain-cars-under-16000

[thackney]

we need only 1 tax for all governments

State, Federal and when applicable, local are separate and should remain that way. We don't need the Federal getting their fingers in any deeper.

[Olog-hai]

Those prices are for the theoretical stripped-down models. Lowest new price I could find for the lowest-package Kia Soul is about $17,7XX.

[make no mistake]

yep, you are totally right. My mistake. : )

[Know et al]

In 1972 gas was 32 cents.

It was 29.9 here, until 1973.

[nascarnation]

Anybody with an SAT score above Bill Clinton’s can negotiate a grand or more off at the dealer, especially this time of year on a leftover. Especially with gas prices plunging these smaller cars will be duds on the lot.

[<1/1,000,000th%]

Keep dreaming and wait until the new gas taxes hit.

[Tired of Taxes]

There’s an Aldi’s, but it’s not close by.

I always bought real butter - never the fake stuff.

But, the price of butter doubled this year. The news is that demand increased because people are hearing now that butter isn’t as bad for your health as it was believed to be.

[TigersEye]

My mistake. : )

Make no mistake! ;^) lol