Gasoline was $.29-$.33 cents per gal (NJ) in the late 1950’s. Adjusting for inflation would put that price at approx. $2.46.
Often wonder how it was that low when production / transportation/distribution capabilities had to be less than today.
Possible Answer. It’s higher today due to % of taxes added on.... ????
Taxes were included in the $0.30 per gallon prices of the late fifties. So today the inflation-adjusted price where gasoline should be is $2.46. I believe the lower price, inflation-adjusted is due to the efficiencies of the marketplace. The cost of production is probably less now, cost of transportation is probably less now, in general the cost of bringing a product to market is less now due to efficiency advances in these areas.