Gas prices: get a grip on reality

There has been much moaning about the recent spike in the cost of gasoline. Hurricane Katrina won’t help much as it hit the gulf oil rigs and refineries hard. With all of this there is a real need to make sure your perspective is properly placed and to not get panicked. Here is what one Texan did when he plotted how much he paid for each gallon of gas he purchased since 1979. 996 fill-ups are represented and the actual price paid, the inflation price, and US average prices are shown in a time series graph. What it shows is that we aren’t quite yet in the situation our parents were in the 80’s when it comes to fuel costs.

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