http://www.eia.doe.gov/emeu/25opec/sld004.htm Show's us that in 1972 a gal of gas was ~.36 a gal. Using: http://www.westegg.com/inflation/infl.cgi that would be $1.73 in todays dollars. A little less then double the inflation rate. Since it is a finite resource, and a commodity, is it really that big of a surprise that prices would rise?
http://www.westegg.com/inflation/infl.cgi that would be $1.73 in todays dollars. A little less then double the inflation rate. Since it is a finite resource, and a commodity, is it really that big of a surprise that prices would rise?