Who was president?

GEORGE W BUSH, 2008, a little over 4 dollars a gallon. National Average.

Inflation Adjusted Gasoline Prices (1978-2020)
Category: Gasoline (All types, Per gallon)

Year Average Gasoline Prices by Year* Average Annual CPI for Gasoline** Gas Prices Adjusted for Inflation (In 2020 Dollars)
1978 0.652 51.900 2.438
1979 0.882 70.200 2.438
1980 1.221 97.500 2.432
1981 1.353 108.500 2.421
1982 1.281 102.800 2.419
1983 1.225 99.400 2.392
1984 1.198 97.800 2.377
1985 1.196 98.600 2.354
1986 0.931 77.000 2.347
1987 0.957 80.100 2.320
1988 0.964 80.800 2.315
1989 1.060 88.500 2.325
1990 1.217 101.000 2.340
1991 1.196 99.200 2.341
1992 1.190 99.000 2.333
1993 1.173 97.700 2.330
1994 1.174 98.200 2.321
1995 1.205 99.800 2.345
1996 1.288 105.900 2.361
1997 1.291 105.800 2.369
1998 1.115 91.600 2.364
1999 1.221 100.100 2.368
2000 1.563 128.600 2.359
2001 1.531 124.000 2.397
2002 1.441 116.000 2.411
2003 1.638 135.100 2.353
2004 1.923 159.700 2.337
2005 2.338 194.700 2.331
2006 2.635 219.900 2.326
2007 2.849 237.959 2.325
2008 3.317 277.457 2.321
2009 2.401 201.555 2.312
2010 2.836 238.594 2.307
2011 3.577 301.694 2.301
2012 3.695 311.470 2.303
2013 3.584 302.577 2.299
2014 3.425 290.889 2.286
2015 2.510 212.007 2.298
2016 2.204 187.602 2.280
2017 2.469 211.770 2.263
2018 2.794 240.599 2.254
2019 2.698 232.003 2.258
2020 2.242 194.130 2.242


For me, the most painful gas prices were during the Carter years. There was trouble in the Mideast, Americans held hostage by the Iranians. This chart, which adjusts for inflation, bears out my recollections. 1978/1979 were the highest prices.

I remember paying at least 4.25 a gallonin 2008. Maybe a little more.

Interesting info.

Interesting bigbrownie. Be interesting if figured back to the 60s.
Thats when gasoline was under $1.00
just

Yes I’d like to see that on a chart. I recall gas at 29.9 cents in the 60s. But wages were a fraction of what they are now.

The first year I worked in the mine, gas was 55 cents a gallon (1976 ). But my hourly rate was $5.55. So in one hour, ( pretax ) I could buy 10 gallons of gas. Today, my mining friends ( I’m retired from it now ) earn about $30 an hour. So, they can buy about 9 1/4 gallons with an hour’s wages. About the same, more or less.

I think the inflation calculator says at 1960 a dollar then is 9 today

Don't forget price isn't everything. Back in 73 or 74 I was only allowed to buy the same amount of fuel from my supplier as I bought the year before. I took on some new farms and was able to get their amount to make up the difference I had to have.
In WW2 gas was rationed and you needed a stamp to buy an amount, same with tires, sugar and on and on. So if push comes to shove would you rather be told how much gas you can have or let the dollar do the rationing ?

It was .89 a gallon when i started driving in 97 or 98. At the time, i think i made 6 or 7 an hour. It just seemed a LOT better because there werent many other bills. Ill still take last years 1.79!

2022 just wait.

The chart showing inflation adjusted to me is the more important issues. We tend to get all hung up on actual prices instead of the real cost to us based on other cost factors. The actual prices don't address issues like better mileage, etc. average miles driven etc. Inflation adjusted the price has been very stable for 40 years. Wish things like higher education, health care etc. would adjust out as gas prices have. Fuel production like agriculture production use a lot of capital to reduce labor or make labor more productive which is why those costs do not rise way out of line and over inflation. Their stable costs have allowed for a lower cost of living and low inflation rate for almost a generation. If those two get out of whack from the last 40 year trends things can get hairy fast and it will hit younger and working families that buy more food and those that have longer commutes the most.


Bryce

Started driving legally and buying gas in 1974 and remember it was $.30-.33/gal. And locally gas is now $3.15/3.19. pretty close!!!

In the meantime we managed to get to the top of state gas tax list!!!

Yea Katrina hit shut down 90 % of the refineries , But I think it was more like 2005-06

In the late 70's under carter I remember when it went over 1$ gal. The pumps were set at half sale because none of them were designed for gas that high !!!! Think it was 78-79 . Plus it was 5 dollar max sale

LOL but not a real good comparison . THROW in the price of the car your putting the gas in. PLUS the house the car is parked in front off. OR the groceries you drove home from the store . Then calculate the higher wages.


DETROIT, June 6 (AP)—The American consumer paid an average $5,450 for a new car in 1976, $700 more than in 1975, according to an annual survey by the National Automobile Dealers Association. It was the biggest relative increase from one year to the next in at least a decade.

IRVINE, Calif., May 18, 2021 /PRNewswire/ -- The estimated average transaction price for a light vehicle in the United States was $40,768 in April 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $864 (up 2.2%) from April 2020, while increasing $92 (up 0.23%) from March 2021.

5400 vs 40,000 eats up that higher wages really fast.

My prediction is this year will be the highest gas price...

Obama did his best to get it as high as he could. I remember him saying we should be paying the same $6 a gallon like they did in Europe. It was his way of trying to eliminate our dependence on fossil fuels like he's doing now.

Obummer ……had me paying 4.50 per gal for home heating fuel one year..

In 2008 I was paying 5.28 for #1 diesel. That is the highest I ever seen gas and diesel.

My prediction is gas has just about peaked for this year, the price will start to decline in about a month.