[The_Victor]

The allowance of $0.59 you received in 1976 would be worth $1.99 today.

The only way these numbers work out is by assuming an average inflation rate of 4.14% from '76 to '06, compounded annually.

A quick look at your own post give the inflation in '76 at 8.7%. Inflation during the Carter presidency was double digit, and even during the Reagan administration generally exceeded 5%.

With an average inflation rate of just 6% the price of gasoline would be $3.39.

[raybbr]

Go here. From 1976 to 2004 the price index averages to 3.32. I don't think the last two years could have skewed the index much.