Keyword: affordibility

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  • A big surprise on gas (fuel is more affordable than it was during the early '60s)

    08/11/2008 7:17:45 AM PDT · by shrinkermd · 24 replies · 606+ views
    LA Times ^ | 11 August 2008 | By Indur M. Goklany and Jerry Taylor
    After studying the average yearly price of gasoline from 1949 to 2007, and assigning the number "1" to the ratio in 1960, we found today's prices comparable to what they were in 1960 (1.35 today to 1.00 in 1960, with a high of 3.32 in 1998). The higher the gasoline affordability index figure, the lower the price of gasoline relative to disposable income. Anger about rising fuel prices has taken a while to build because, until the last year or so, the increases could be shrugged off as natural year-to-year price variation. Moreover, pump prices still seemed relatively cheap given...