Monday, September 05, 2005
I remember saying in the late '90s that gas was an absolute bargain compared to what it had cost in the past and compared to the rate at which other commodities had increased in cost. Here's a neat graph that demonstrates that fact. Notice that the graph ends in 2004 and that if you extrapolate to today's near $3 per gallon prices, current prices are in the same range as inflation adjusted early 80s oil crises prices. Good times.