$3.37 Gas & $3.58 Diesel - Thrilled.

[bstrom]

I'm thinking it's going over 4 bucks for gas this time before it goes down. Whatever the high was last time it will go over. It's really bad timing too, it could kill any economic recovery we might be seeing.

 

[Loren49]

Gas price by year:
gas prices history

Inflation calculator
Inflation Calculator | Find US Dollar's Value from 1913-2010

From these sites I find that in 1980 the price was $1.28. When adjusted for 30 years of inflation the 2010 equivalent price is $3.39. As recently as 2006 we were paying a price equivalent to over $3.00 in today's dollars.

We are not at an unprecedented gas price and much of the true cost of gasoline is socialized through the tax system and national debt.

An interesting read:
Four-dollar-per-gallon gas is cheap! - By Robert Bryce - Slate Magazine

I am also way more concerned about the 10s of billions of bonuses being paid (and taxed at historically low rates- max federal tax in 1960s was 90%, now is 35% - max NYS tax in 1970 was 15% and now 6.8 % - the difference on one hedge fund managers $5 billion dollar take would be about $400,000,000 for NYS and save about 5,000 jobs)
John A. Paulson?s Gold Bets Net Handsome $5 Billion Profit | Economy Watch

Loren

 

[7snakes]

I think gas/oil prices have been a huge part of inflation. Take that out of the equation and MUCH would improve. Again, nothin will change unless masses of fed up people that have been taking it up where it hurts come together. No takers on leading?

 

[bstrom]

I think gas/oil prices have been a huge part of inflation. Take that out of the equation and MUCH would improve. Again, nothin will change unless masses of fed up people that have been taking it up where it hurts come together. No takers on leading?

We (Americans) would all have to drive more fuel efficient vehicles and drive less. That's the only way to hurt big oil profits. Less demand - lower price. Makes to much sense though - lets try something else. :thumbsup:

 

[sodamo]

Heard on some program this week that oil was $30 something a barrel 2 years ago and $90 currently. No tie to current economic situation apparently.

 

[Markcuda]

Just stay home more

 

[herringchoker]

I filled up my diesel cans this morning at $1.229 per litre ($4.646 per U.S. gallon). Gas here is now $1.103 ($4.169).

 

[Gordon Gould]

Just stay home more

That works for me.

 

[NH-Rob]

Biggest problem in my area is the jobs are no longer local and many have to travel to get a good job. Luckily I walk to work and put less than 3000 miles a year on my jeep. My wife drives the typical 12,000 a year. I do dread having to gas up.
Rob

 

[Ductape]

I am also way more concerned about the 10s of billions of bonuses being paid (and taxed at historically low rates- max federal tax in 1960s was 90%, now is 35% - max NYS tax in 1970 was 15% and now 6.8 % - the difference on one hedge fund managers $5 billion dollar take would be about $400,000,000 for NYS and save about 5,000 jobs)
John A. Paulson?s Gold Bets Net Handsome $5 Billion Profit | Economy Watch

Loren

I'm not sure I understand what you are saying. So, you feel that it would be better if peoples incomes would be taxed at 90% and that would save jobs ??