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Originally Posted by ridinhighspeeds Technically aren't gasoline prices today relatively cheap when compared to the price index of other goods over the many years? | Short answer, yes.
Outside a 7-Eleven in West Seattle the other day, gasoline cost $2.60 to $2.85 a gallon, depending on grade. Inside the store, milk cost $2.50 to $2.99 a gallon, also depending on grade.
Consumers probably grump over the price while pumping gas but don't think twice as they buy milk. That's because few people realize that over 20 years, prices of these two commonly purchased liquids have climbed by nearly identical amounts. And grocery prices overall have risen even more than gas prices, according to the federal keepers of price data. http://seattletimes.nwsource.com/htm...gasmilk14.html
I had a college professor in economics profess that he thought America should significantly RAISE our gas prices to help stimulate a need for alternative fuel sources, and to help reduce the amount of consumer use. |