Price of gasoline

[UserLoser.]

Ok, I don't watch TV, read the newspaper, or follow any politic stuff, so I figured I'd just ask here since I'm sure you all can give me a solid indepth response.  Can someone explain to me why the hell I'm paying $2.85/gallon for gas?  Why can't it be like this anymore?

Thanks

[Mangix]

because we need gasoline from iraq. our supply of gas is running out and that's what will cause the downfall of the earthern civilizations. well gas wont be it but still we will die unless we go to another planet .

[Topaz]

Our oil fields are seemingly filling up again, read that one other post.

Mangix:
Wtf are you using a Hamtaro avatar? That's MINE!

[Arta]

You ought to be paying more. Gas is >$7 here. Also, you should adjust those prices for inflation before you take them too seriously.

[Arta]

Aha! See here: http://minneapolisfed.org/Research/data/us/calc/index.cfm

Apparently, $0.85 in 1955 is $6.17 when adjusted for inflation. Also, the median income in the 50s was much lower than it is now, so it was even worse than that.

[hismajesty]

I remember it as low as $0.95.

[Arta]

hmm. Been reading more about it. People really shouldn't moan about gas prices - it's ridiculous. See here: http://inflationdata.com/Inflation/Inflation_Rate/Gasoline_Inflation.asp



Besides which, gas is just too cheap. People won't stop driving stupid cars that get 10mpg until gas is $6/7/8/gal.

[Forged]

Also, you should adjust those prices for inflation before you take them too seriously.

Last summer gas fluxiated between 1.40 and 1.60.  I made 7.00$ an hour.  This summer gas started at ~2.00$ and has stayed around ~$2.40 for the majority of it.  I make 7.50$ an hour.  The extra .50$ in wages is only because I was given a raise.  There for inflation has nothing to do with the current spike in gas prices.

[Mephisto]

It's good to see though that automobile companies are starting to market vehicles which use alternate sources of energy and produce no harmful waste products (only water).

Edit: Mis-understood a statement.

[shout]

Gas has gone up from $2.40 to $2.70 in the past 3 or 4 days. I am in Wisconsin, which I am told has cheap++ gas.

The owner of the gas station I kinda work at (the sub shop is in the gas station :/ ) says by the end of the month he expects gas to be up to ~3.10.

[Banana fanna fo fanna]

The good news is Honda is marketting the Accord Hybrid as its most powerful, top-of-the-line Accord model.

Of course, I really want a PriusPlus; 100 mpg sounds tasty right now.

[dxoigmn]

Besides which, gas is just too cheap. People won't stop driving stupid cars that get 10mpg until gas is $6/7/8/gal.

Yep! Gas is dirt cheap compared to a lot of other things. http://www.vpcga.com/i4a/pages/index.cfm?pageid=152

[Arta]

There for inflation has nothing to do with the current spike in gas prices.

Oh, I'm not saying it does. I was just pointing out that gas is actually much cheaper now than it was in the 50s.

[iago]

Mm, gas here just spiked to $4.16/gallon.  UserLoser, I wish I had cheap gas like you.  In my entire life, I don't remember it EVER being below $2.40, and $2.40 is considered cheap+++ here. 

And yeah, in Europe it's much, much more expensive. 

Learn to ride a bike?

[UserLoser.]

Haha, well now I know some of you guys are paying even more rediculous prices and that inflation calculation thing is interesting.  But nobody has really explained why the prices have gone way up compared to what they were a few years back.

Shout: Same here, was $2.44 like 3 days ago, $2.79 today