I lived in England through the latter 60s. If memory serves (Never a sure
thing these days ;-) gas averaged about $5 to $6 an imperial gallon in 1966
dollars. That's about $25 a gallon today adjusted for inflation using the
CPI. We need to compare % increase in gas prices adjusted for inflation to
get a true measure of what is happening with fuel prices. As you can see,
adjusted for inflation, the cost of gas in England has actually decreased
relative to inflation and the value of the dollar. In the US, given a gas
cost of about 60 cents a gallon in 1966, CPI dictates our gas should cost
$2.60 a gallon adjusted for inflation. Thus our cost has not quite doubled
compared to an actual decrease in England. And that represents a *geometric*
increase during only the past 3 years in this country!
The questions become, "Was our gas price held artificially low until 2005?",
and "If so, how was that done and why?"
Just a thought...
Cheers!!
Jim
On Sat, Aug 30, 2008 at 12:54 PM, Ron Soave <soavero@yahoo.com> wrote:
> The article is from 2005. I spent a lot of time in Brazil this spring at it
> was between $6 and $7 per gallon, higher in the boonies.
>
>
> --- On Sat, 8/30/08, brian S <bugeye15@hotmail.com> wrote:
> > http://money.cnn.com/pf/features/lists/global_gasprices/
> >
> > You are right tho, it is much cheaper than Europe,
> > But then again all of Europe could fit inside Texas, almost
> > ;-)
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Cheers!!
Jim
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