Gas exceeds $3 per gallon for 1,000 days

Gasoline in the U.S. has now cost more than $3 per gallon for more than 1,000 straight days, according to AAA.
   The streak in Washington is even longer at 1,077 days, stretching to Oct. 7, 2010, while gas hit $3 per gallon in Oregon one month later.
   The current statewide average in Washington is $3.75 per gallon, with Oregon at $3.70. The national average as of Sept. 25 was $3.52.
   AAA’s president likened sub-$3 gas to 8-track tapes and drive-in movies, a thing of the past. “The reality is that expensive gas is here to stay,” he said. Read the AAA news story.
   A quick check of the Bureau of Labor Statistics’ inflation calculator shows that $3.75 is equivalent to $5.09 in 2000, $6.71 in 1990, and $10.64 in 1980 – just in case you start pining for “the good old days.” In other words, gasoline that cost 32.9¢ per gallon in 1970 is equivalent to $1.99 today. A good value for sure, but not exceedingly so.

by  Jon Osterberg



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