Has 35 cent a gallon gas returned???

[Stuart G]

Back in the 60s when I learned to drive..Gas was 30 - 35 cents a gallon..what would that buy?

I also recall in 1999, February. traveling through the country from Chicago to Miami and one place had it for 74 cents.
(the range then was 74 -95 cents..as I traveled)
.....So in 35 years it went up 300 percent... accounts for inflation I suspect..ok?

Well it is now about 1.50 cents in some places now.....that was 10 years ago, (100 percent higher than 99)
... and this is now..,,

I remember clearly that there were articles in the late 90s that said that gas was actually under priced as compared to the 60s..
The argument went that taking inflation into account, we were getting a bargain then..So..as oil continues down, will we get the same arguments from the oil defenders?...and this question is very important...

Who was gouging who when the price in my area was $4.35 cents a gallon just a few months ago?...Are there criminal charges to be filed for that kind of behavior?..

[RebelOne]

1. I remember back in the '50s when gas was in the teens.

Occasionally, they would go down to the single digits when there was a gas war. I doubt it will ever go back down to 30 to 35 cents a gallon. This morning I paid $1.75 a gallon. If it would go down to $1 a gallon, I'd be thrilled.

[opihimoimoi]

3. Those drillers and refinery workers should be making about $.75 per hour??

[Zynx]

2. Oil speculators were gouging when prices were that high. Those prices

did not reflect fundamentals at all.

[ThomWV]

4. Peek Oil, Peak Oil, Piss on Oil

Peek oil is when you only get to peek at the expensive stuff.

Peak Oil is the disproven concept that we have run out of oil.

Piss on oil is what we all should be doing.

[taterguy]

5. The best way to piss on oil is to avoid buying it

Obviously

[leeroysphitz]

12. We would then be pissing on OTHER peoples oil. n/t

[Edweird]

13. I *DO* recall quite a bit of screaching by some know-it-alls about how prices would *never*

come back down again. "$5.00/gal soon, then $10.00/gal. The end of the world is upon us!!!!"
As we can see, that was not the case.
I wish people here would cool it with the alarmist nonsense.

[Demeter]

6. If You Factor Out Inflation, Gas Is 19 Cents/Gallon

in 1973 terms, assuming 10x inflation since. Or perhaps you'd have to go back to the 50's price index. In any event, it's affordable. I never thought to see it below $2 in my lifetime again.

[deadmessengers]

7. I bought gas for .69/gal back in 98-99 or so.

Still have the receipt somewhere, actually. This was in suburban Atlanta, btw.

[ProdigalJunkMail]

9. me too...must have been at the same pump :-)

I had just purchased a '98 F150 and the first fill-up was for $.68/gal...less than $15 bucks to fill-er-up...

sP

[Atman]

8. Oil companies trying to kill market for alternative fuels?

It's worked before. Americans are nothing if not stupid...need to be kicked in the head a few times.

Fool me once, shame on...shame on me. Fool me twice, well...can't get fooled again!

:tinfoilhat:

.

[charlie]

10. The Saudis have said as much

They recently pissed off OPEC members who were hot to curtail production by pumping past their quota. Prince Turki said they were worried about the quickening pace of research and adoption of fuel alternatives, because if countries could get off petroleum they weren't ever coming back.

[Stuart G]

11. Thom Hartman has proposed this many times on his show...

He says that the oil companies and producers jointly lower the price to the point where start ups for alternative fuels cannot compete, people go back to their gas guzzlers, and using them at will, then jack the price up...Over and over again, it keeps the competition out, and there profits over the long haul...very very high.......