US Retail Gasoline
This chart shows the retail price of gasoline in the US, given as mg of gold per gallon of gas. It is based on an average price for regular gas in all areas of the country, sampled weekly by the Energy Information Administration.
Prices for gasoline were fairly stable from 1990 to 1999, oscillating around 100 mg/gal. From 2000 to 2008, they became more volatile, varying from 100 to 200 mg, and averaging about 140 mg. In late 2008, as the economy collapsed, gas prices fell to a new low of 57 mg, and remain around 70 mg today. Yet over the time period covered by this chart, the dollar price of gas has gone from a little over $1.00 per gallon to around $4.00 per gallon.
As a child, I often saw gasoline for 25 cents per gallon – in the days when that meant a silver quarter. The melt value of that quarter today is almost $6, another way of pointing out that today's fuel prices, rather than being high, are actually close to their historic lows!
More than 2 decades of US retail gasoline prices:
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You should also check in terms of EUR and GBP.
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"Rather than complaining about high fuel prices, you should realize that fuel prices are near their historic lows!"
…except, of course, that wages are also in their historic lows
@curtis: So really the quote could say: "Rather than complaining about high fuel prices, complain about low wages"
Gas is very cheap. With Gas @ Pre Nixon(Gold backed dollar) prices @ $0.20 a Gallon to Debauched Dollar $0.12 per Gallon. The problem is that the 99% got the frog soup treatment(increasing the temperature in the pot gradually) and now they are Cooked.Can't even afford $0.12 gas.
So, if gas prices were – as of the latest chart update – near historic lows in gold-terms, the outlook for $5.00 gallon gas by summer could, irrespective of the decline in U.S. consumption, prove to be conservative (?)
I can't immagine paying $5.00 even in debauched dollars – $0.15 in pre Nix currency. Right now $4.00 per Gal it makes sense for me to consider to get on my bike and pedal 20 blocks to my Chevy Volt parked by the charging station. Situation being – Ossified (possibly confliucted) Con Edison Management draging its feet in installing charging stations on residential streets. Ain't that cooked yet. Remember 16 Kw battery is 40 miles of fun or work or Etc. Then you run the gas engine just for nostalgia.
This is exactly right; the crux is that the Federal Reserve doubled the money supply to "try an bring us out of a recession." The problem is not the high price of gas; it is the low value of the dollar
I Think Debauched Dollars are one part of the blind men's description of the gas prices Elephant.
Another are Planet Saudi Arabia is BSing about its pumping proves. And G. Sucks an Morgan Sucks are colluding (or at least enabling) Russians ( The oil is their major reason for growth) and Oil Companies (Half of British Retiries depend on BP's payouts) to ride World's growing dependency on what is a finite resource. Go electric. There definitelly are no wires between Middle East and US. The utilities are regulated and electricity is definitelly not a finite resource.
In an inelastic demand situation, (which oil is for the most part), oil price reflects the purchasing power of the dollar, with some allowance for speculation…about 1%. In terms of gold, the price is very low right now. Count on motorized bikes being the chief source of mobility before 2014. Just look at Asia and their modes of transportation. If you own a big gas guzzler, I would dump it now before it is very worthless. As I see it, if your transportation does not get 30+ MPG right now your toast, rich, or careless. You also might need some steel to armor the sides so the Indians don't shoot you as you rush to grandmothers house. It's going to get rougher out there.
Seems that price of gold is stuck lately. Could it be that oil is sucking all available $ (It is priced in $) out of everybody. Boy, G./Morgan/ Russia/ M.East / OilCo's are cleaning up. The Average Sheeples capitalistic response should be buying oil futures. Did any body figure out how many options to buy to pay for Gases $1 increase @ the pump. This should be published by the Gomnt as a service to the hooked sheeple. Not a recomendation but you read it here first.
GO ELECTRIC.
I there an Electric Rates vs Gold Chart? That's Average US Electric rates.