central NJ reporting...
I paid $3.79/gal this afternoon. It's getting bad, no doubt about it..
NJ has the one of the lowest taxes on gasoline in the nation, so we've always gotten a
bit of a break. Still, I'm sure we'll be seeing prices over $4.00 / gal by summer, and there's been chatter that it could even reach $5.00 by fall. Hard to believe that less than a year ago I was paying $2.32 at the same station, and under $2.00 (for a while anyway) just two short years ago.
When I was in high school and began driving, the average price per gallon in NJ was 29¢ /gal.
As much as prices continued to rise, for years the prices acually remained proportionately lower than the inflation rate, but according to the calculation I just made comparing my 1968 price to today's price per gallon, it sure looks like
that dream is over.
The inflation calculator I used indicated that 29¢ in '68 would be equivalent to spending approximately $2.00 in today's money--which sems about right when comparing prices of other items...like beer
.
There's no doubt that we got spoiled over the years and took supply and price for granted (which, of course, is the American way).
We got spoiled, and OPEC got 'hip'.
Topic: Post your local Gas Prices here... (Read 26180 times)
