Gasoline Pump Prices Moved Higher in San Francisco
In 1972 I purchased a VW Super Bettle for $1,950.00, gas was $0.299 per gallon.
Today a new VW is about $20,000.00 and gas is $3.50.
And you can pay $4,500.00 FOR A RIDING MOWER :-)
That sentence is a tad bit disingenuous. What was the capacity in 1976 versus what it is now???? The existing plants have expanded and expanded and capacity has kept pace with demand otherwise we would have rationing and there would be 5 mile long lines to fill up. I filled up this weekend, no line, no rationing.
I am old enough to completely agree with this.
I remember our first color TV cost over $400 in the early 60’s. That would be the equivalent of a huge plasma these days (in price and technology leap).
BUT, there are some BIG DIFFERENCES in the way we live now.
To save herself a trip, my mom thought nothing of sending my sister or me on our bikes to the grocery when we were elementary age.
No way anyone would do that now.
We do jump in our cars quicker and more often than in the 50’s.
How much longer do you think before the rubes catch on?
What's in your paycheck?
Whatever you do, don't check on the salaries of government executives and "public" employees...
Water companies are the only true comparison in the list since they provide an essential commodity to a captive market.
BTW the Brits are paying $8.18 per gallon for gas...
Value of a 1953 quarter in 1953: 25 cents
Value of a 1953 quarter today: about $3.50
Where does this clown get $.30 in 1950, in 1952 I was only paying $.139/gallon.
Gasoline Pump Prices Moved Higher in San Francisco
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
If it doesn't, simply comparing “price adjusted for inflation” is irrelevant.
That is, if there is 10 times the supply of oil now than then, the current price (which is claimed to be a match for the 1950 price) would actually be far higher than in 1950, if the demand were constant. I know the demand has not been constant, I'm using hypothetics here.
ping
except that oil prices have little to do with even inflation anymore since there is a commodity goldrush going on and it will keep going until it totally collapses (which will come about either through government regulation of trading or a massive recession in the US).
Just like ethanol, we’re literally doing this to ourselves. It’s governmental suicide.
No way poor and lower-middle class families can continue to pay these gas prices. Even the regular middle-class is being hit hard what with all the other expenses such as groceries, higher utilities, etc.
It doesn’t matter how much gas was in the 1950’s, today’s price is the concern for everyone. Eighty dollars or more to fill a tank? That’s a day’s wage after taxes for some people.
Don’t know where things are heading, but everyday life for many people is being affected badly. Guess this is one way to hurt the U.S. economy for those wanting to. People have little money left over for other purchases.
Those who can afford the high prices should keep in mind the other 80% of the population cannot. The economy will slow down even more.
I live 1.5 miles from work, and driving a 12 MPG, full-size van, I use far less gas than my hybrid-driving commuter friends.
Using this logic a desktop computer should cost several hundred billion dollars.
This is the Federal Reserve Bank calculator for inflation. Note, the inflation imputed is not solely energy; this means that the inflation rate is probably more lately because energy and food have been both volatile and rising faster than other portions of living costs.
Nobody understands what this means. Let's put it into context. For example, (rough figures, someone please check 'em) the average Joe worked 2 hours to pay for a gallon of gas. Today he works 15 minutes to pay for a gallon of gas. Or some such thing.
Gas in my neck of the woods in 1965 was $ .23 per gallon...Today, it's $ 3.77...
We're getting robbed and we're standing still for it...