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Chart of the Week: Inflation Adjusted Gasoline

Over the past century, as the industry became ever more adept and efficient at finding, pumping and refining oil, Real Gas prices did not keep up with inflation.
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85 Years of Inflation Adjusted Gasoline

Graphic courtesy of the NYT

This long downtrend shows a minor spike in the 1930s, which eventually reverted back to trend. There was a major spike in the 1970's; It subsequently collapsed in price some 50%, from $3 / gal to $1.50, over the 1980 to '84 timeframe. It would not be outrageous to call that price action - particularly the 1970s - bubble-like.

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Quote of the Day:

"Winning can be defined as the science of being totally prepared."
~George Allen, Football Coach

Wednesday, August 17, 2005 | 05:15 AM | Permalink | Comments (5) | TrackBack (2)
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Comments

Just wondering-

On average are we using more gas per capita due to longer commutes, etc? How does the average weekly expenditure on gasoline (inflation adjusted) chart out?

Posted by: Welby | Aug 17, 2005 1:05:42 PM