Gary, I agree with you completely not that I wouldn't like $2 a gallon
gas. I do know the rule of thumb to be that things cost approx. 10X
what they did in the 50s and the today's money is worth approx. 1/10 of
what it was then. Jim
-----Original Message-----
From: 6pack-bounces+jimhearn1=comcast.net@autox.team.net
[mailto:6pack-bounces+jimhearn1=comcast.net@autox.team.net] On Behalf Of
Gary Fluke
Sent: Thursday, January 10, 2008 7:42 PM
To: Six Pack
Subject: [6pack] Today's price of gasoline
Fellow motorists,
Don't worry too much about the current price of fuel. For all of the
talking,
shouting, screaming and politicizing about the price of gasoline, please
consider this in context. I'm going to compare the price
of gasoline today to the price in 1958, when gasoline was considered to
be so
cheap that Americans could afford to drive heavy, flashy cars with
little
consideration of fuel economy.
The average annual wage in 1958 was $3,674 and the average price of
gasoline
was $0.284 per gallon. The current average annual wage of about $40,000
is
about eleven times that of 1958. Eleven times $0.284 is $3.124, which
is very
close to the price of a gallon of regular gasoline here in Washington
State
where the price of gasoline is high. Gasoline is still cheap and for
most
vehicles a small portion of the cost of ownership and operation! Also,
gasoline is a commodity, so people shouldn't get all shook-up when the
price
goes up and down.
By the way, have you ever heard these numbers mentioned by anyone in our
national media? I believe that's a reflection of how reliable and
honest the
so called journalists we have these days are.
Gary
'73
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