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Daily Archives: June 28, 2011

Gasoline Price Wars: Now Ancient History

With the price at 24 cents, a driver could purchase 10 gallons of gas for a total of $2.40, which is about a dollar less than it costs today for one gallon. 15 gallons at 24 cents a gallon cost $3.60, which is close to the price of gas today for one gallon in some locations.
Using  $3.50 a gallon as a benchmark price today, 10 gallons would cost $35 today  instead of the $2.40 during that gasoline price war in 1969. 15 gallons would cost $52.50 today compared to the $3.60 price during the 1969 price war.
Drivers today are paying about $49 more per 15 gallons than the $3.60 price of 1969.
The American people are being held hostage by high gasoline prices. Drivers who drive 25-30 miles to work one way today are seeing a lot of their income eaten up, by high gasoline prices. For instance a driver who drives 60 miles a day to and from work, who uses 20 gallons a week, would spend close to $65 a week for gasoline, while driving 300 miles.
That is a total of  $260 a month spent on gasoline. The politicians in Washington don’t seem to care about gasoline prices, since senators and congressmen earn $174,000 a year in 2011.
So while our lawmakers more or less ignore the high gasoline prices, the middle class is paying more at the pump each year as gasoline prices continue to rise, with no relief in sight.
 

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