Gas prices NOT too high?
USATODAY.com - Gas prices too high? Not by historical standards
Gas prices appear to be at a historical high, and prices of the past appear to be cheap (17 cents per gallon in the 1930s, a quarter in the 1950s and 50 cents in the 1970s). But this is a classic example of "money illusion." In real inflation-adjusted dollars, gas prices are the same or lower today than in most previous decades.
Gas prices appear to be at a historical high, and prices of the past appear to be cheap (17 cents per gallon in the 1930s, a quarter in the 1950s and 50 cents in the 1970s). But this is a classic example of "money illusion." In real inflation-adjusted dollars, gas prices are the same or lower today than in most previous decades.
posted by faranglander at 9:36 AM
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