Sense of Events: How low can gas go?

Wednesday, December 10, 2008

By Donald Sensing

This low again?

Nope. No way.

Dan Kauffman said...: What year, and what would that price be today, adjusted for inflation?

According to Gasbuddy the average US Price now is $1.65/gal which would be equivalent to $0.50 in 1978.

Of course that was just with a simple inflation calculator, I am not certain what the rise in State and Federal Gasoline taxes have been in the last 30 years.

The average tax load today is $0.47
which makes the base gasoline cost
$1.18 which would be equivalent to
$0.36 in 1978.

Gas mileages were a lot lower back then as well.; December 14, 2008 at 7:18 AM

Sense of Events