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Old 12-03-2013, 01:18 PM   #41
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Originally Posted by Taylorgso View Post
Interesting graph. Shows we're better off than in 1918, a little worse than in 1981. Looks like 1998 was a very good year! Graph constructed in June of this year - so maybe we're a little better off now than 1981!!!

Attachment 43385
What it shows is that there have only been 3 other times in the past 100 years that gas has been as high as it has been for pretty much the last 5 years.

Edit: And the latest data shown lists it as the highest it's ever been except for in 1918.
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Old 12-03-2013, 02:00 PM   #42
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Originally Posted by dustman_stx View Post
What it shows is that there have only been 3 other times in the past 100 years that gas has been as high as it has been for pretty much the last 5 years.

Edit: And the latest data shown lists it as the highest it's ever been except for in 1918.
That's one way of looking at it! Another way is to see that the nominal gas price and the inflation adjusted price have reached near equilibrium. The blue dot at the top left shows nominal price in May 2011 of $3.84/gal, and the margin text shows average price for year 2012 of $3.56/gal. With prices now hovering around $3.20/gal (in N.C.), seems like this year may be a leveling off point. I do realize, of course, that much of our inflationary trends are driven by fuel prices.

But I'll return to my original point. High gas or no, I don't want to go back to the 60's!
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Old 12-03-2013, 02:34 PM   #43
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That's one way of looking at it! Another way is to see that the nominal gas price and the inflation adjusted price have reached near equilibrium. The blue dot at the top left shows nominal price in May 2011 of $3.84/gal, and the margin text shows average price for year 2012 of $3.56/gal. With prices now hovering around $3.20/gal (in N.C.), seems like this year may be a leveling off point. I do realize, of course, that much of our inflationary trends are driven by fuel prices.

But I'll return to my original point. High gas or no, I don't want to go back to the 60's!
I'm not a statistician, but I think you've misinterpreted the data. The actual price trends always closer to the inflation adjusted price because the inflation adjusted price is in todays dollars. Todays actual price will sit on the adjusted price because we are using todays dollars. What you need to be looking at is only the inflation adjusted graph to make an accurate comparison of gas prices over time.
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Old 12-03-2013, 04:30 PM   #44
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I'm not a statistician, but I think you've misinterpreted the data. The actual price trends always closer to the inflation adjusted price because the inflation adjusted price is in todays dollars. Todays actual price will sit on the adjusted price because we are using todays dollars. What you need to be looking at is only the inflation adjusted graph to make an accurate comparison of gas prices over time.
Oh, I understand the difference between the two graph lines, ALL of the red line is in todays dollars; and yes the adjusted price has crept up, but for most of that period the adjusted price has been above $2.60/gallon. I'll go back to my original point. In terms of the historical Cost of Living Index, today's gasoline is not unreasonably priced. And in real terms, considering that vehicles are getting at least double the mileage they were getting 30 years ago, it's actually a bargain. Home construction in the '60s was less than $20/square foot, and now you'd be hard put to build one for under $200. Read the posts about fuel prices in Canada, and in Germany! Yet, for some reason Americans think gasoline should be just "pocket money." The price has been driven largely by the emerging 3rd world countries' demand for fuel (China, etc.). Everyone wants to blame the "big oil" companies for the price increase.

When I could no longer afford the airplane, I gave up hobby flying. When I could no longer afford other expensive toys, I gave them up, too. And when I can no longer afford fuel for my MH, I'll get rid of it, too. We all make our choices. I choose to buy medical care, even though the cost of a doctor or hospital visit is many times what it once was. I guess its a matter of choosing between what's necessary and what's frivolous.

Thanks for your input. It's been good pause for thought!
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Old 12-03-2013, 04:44 PM   #45
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Everything is frivolous except for a few hundred calories a day and the ability to not freeze to death. For my kids sake I hope it doesn't come to the point where that is all we can expect for an honest days work.
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Old 12-03-2013, 04:49 PM   #46
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Everything is frivolous except for a few hundred calories a day and the ability to not freeze to death. For my kids sake I hope it doesn't come to the point where that is all we can expect for an honest days work.
Well said!
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Old 12-03-2013, 04:55 PM   #47
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Near Grand Rapids, MI, I just saw prices lowered to 3.01, and per Gas Buddy I can travel about 15 miles for 2.95.
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Old 12-03-2013, 05:31 PM   #48
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St. Joe Missouri...$2.79
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Old 12-03-2013, 05:37 PM   #49
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It's $3.04 for gas and $3.69 for diesel down here in duck dynasty land.
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