OMFG!!! Regular gas $3.07

[curling]

Gas prices appear to be at a historical high, and prices of the past appear to be cheap (17 cents per gallon in the 1930s, a quarter in the 1950s and 50 cents in the 1970s). But this is a classic example of "money illusion." In real inflation-adjusted dollars, gas prices are the same or lower today than in most previous decades.

Measured in real dollars, gas prices peaked in March 1981 at more than $3 per gallon. We have not even come close to paying the highest real gas price in history - today's prices are still 30% below the all-time high.

We can compare gas prices over time by calculating the cost of 1,000 gallons of gas purchased at the average price in a given year, as a percentage of per-capita disposable income in that year. For example, in 1935, when gas prices were 17 cents per gallon and annual disposable income was $466, the cost of 1,000 gallons of gas was 36% of average disposable income. Today, it takes less than 7% of our disposable income to buy 1,000 gallons of gas at the current $2.10 a gallon. The "cheap" gas of the '60s and '70s cost about 12% as a share of income.

Dang, freak this is sounds very intelligent did you know this or copy from somewhere?

 

[spongebob]

yea .03 to .05 profit margins, refineries are happy as hell. right now its probably running .15 maybe .20 per gallon. thats 87 octane.

?

another misprint. the margins are running as high as .50 to .60 per gallon.

 

[redguru]

Gas prices appear to be at a historical high, and prices of the past appear to be cheap (17 cents per gallon in the 1930s, a quarter in the 1950s and 50 cents in the 1970s). But this is a classic example of "money illusion." In real inflation-adjusted dollars, gas prices are the same or lower today than in most previous decades.

Measured in real dollars, gas prices peaked in March 1981 at more than $3 per gallon. We have not even come close to paying the highest real gas price in history - today's prices are still 30% below the all-time high.

We can compare gas prices over time by calculating the cost of 1,000 gallons of gas purchased at the average price in a given year, as a percentage of per-capita disposable income in that year. For example, in 1935, when gas prices were 17 cents per gallon and annual disposable income was $466, the cost of 1,000 gallons of gas was 36% of average disposable income. Today, it takes less than 7% of our disposable income to buy 1,000 gallons of gas at the current $2.10 a gallon. The "cheap" gas of the '60s and '70s cost about 12% as a share of income.

Word for word quote from a USA Today editorial without citing the source? Dude, that's more than just wrong.

 

[WODIN]

Word for word quote from a USA Today editorial without citing the source? Dude, that's more than just wrong.

LMAO!!!

I knew I had read that somewhere. Shit. You're good.

 

[redguru]

LMAO!!!

I knew I had read that somewhere. Shit. You're good.

I just googled a couple sentences from his post. here is my GIS

 

[spongebob]

Word for word quote from a USA Today editorial without citing the source? Dude, that's more than just wrong.

for peeps who dont know freakmonster, he is famous for that. i use to catch him all the time in debates about WTC. he just doesnt post the sources.

 

[Steroid_Virgin]

Gas problem is going to get worse before it gets better... Even the bush tax cuts can't save our economy from this.. add in all the interest rate hikes from greenspan trying to burst the housing bubble, and you have a nasty recession on the horizon..