For all of the talking, shouting, screaming and politicizing about the price
of gasoline, please consider this in context. I'm going to compare the price
of gasoline today to the price in 1958, when gasoline was considered to be so
cheap that Americans could afford to drive heavy, flashy cars with little
consideration of fuel economy.
The average annual wage in 1958 was $3,674 and the average price of gasoline
was $0.284 per gallon. The current average annual wage of about $37,000 is
ten times that of 1958, but instead of paying $2.84 per gallon, motorists are
paying today a nationally averaged price of $2.449 per gallon. Gasoline is
cheap! Also, gasoline is a commodity, so people shouldn't get all shook-up
when the price goes up and down.
By the way, have you ever heard these numbers mentioned by anyone in our
national media?
Gary
'73
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