The Price of Gasoline

Discussion in 'Economy' started by Gdjjr, Nov 16, 2019.

  1. Gdjjr
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    Gdjjr Senior Member

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    This is an interesting table- I got out of the Navy in Dec 1968 so I used that as a reference point.

    $0.31 in 1969 had the same buying power as $2.19 in 2019

    Annual inflation over this period was about 3.99%

    Gas Price in 1962

    The link above says 1962 which is what I looked for originally
     
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  2. Tijn Von Ingersleben
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    Tijn Von Ingersleben Gold Member

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    The problem is that they do not factor inflation the same way in 2019 that they did in 1962.
     
  3. Dekster
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    Dekster Gold Member

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    gas was $2.04 for 87 when I filled up Tuesday. Some stations I noticed in the last week or so were in the $2.07-$2.11 range
     
  4. Gdjjr
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    Gdjjr Senior Member

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    That's immaterial. Everything costs more because there is more money- when money is printed it devalues what you have in your hand- that hasn't changed since Rome did it.
     
  5. Gdjjr
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    Gdjjr Senior Member

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    It fluctuates, but the numbers they used are an average- the reason I looked it up in the first place was because I thought about my step dad never *filling up*- he'd get 5 or 10 bucks or maybe just 2 bucks worth- today I saw a Citgo offering 1.99- I hope it stays low but with Holidays coming up I expect it to go up pretty soon.
     
  6. Dekster
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    Dekster Gold Member

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    At 31 cents a gallon, 5 or 10 bucks would have gotten you quite a bit of gas. Weren't tanks usually a little over 20 gal. back then?
     
  7. Gdjjr
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    Gdjjr Senior Member

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    We had a 1958 Ford- if memory serves it was a 20 gallon tank. When I returned to Texas in late 68 I got a 55 Ford, it too had a 20 gallon tank.
     
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