mchastek
04-07-2005, 01:04 PM
With the price of a gallon of gasoline well above the $2 mark in the U.S., fuel prices seem to be a common conversation piece.
An article written by Arthur St. Antoine in Motor Trend's May 2005 issue explains that, adjusted for inflation, we are not breaking any records with current prices. For example, in 1946, gas cost $2.05 in 2005 dollars, and in 1922 it was nearly $3.
On top of that, the article explains that the gas expenditures as a percent of the average income is smaller now than it was in the past. For example, in 2003, prices were only 45% of what they were relative to the average income in 1981.
Should we feel lucky? Do you think we're headed for $3, 4, even 5 per gallon like in many other countries? Will large engines end up being heavily taxed in the U.S. like they are elsewhere?
An article written by Arthur St. Antoine in Motor Trend's May 2005 issue explains that, adjusted for inflation, we are not breaking any records with current prices. For example, in 1946, gas cost $2.05 in 2005 dollars, and in 1922 it was nearly $3.
On top of that, the article explains that the gas expenditures as a percent of the average income is smaller now than it was in the past. For example, in 2003, prices were only 45% of what they were relative to the average income in 1981.
Should we feel lucky? Do you think we're headed for $3, 4, even 5 per gallon like in many other countries? Will large engines end up being heavily taxed in the U.S. like they are elsewhere?