Here in California, I can’t find any more gas stations where the least expensive grade is below $4. And be sure to note, now that the price is up, it will never really come back down. There is too much at stake for too many people.
There are those that argue that we’re getting a good deal in the US with gas prices being around $4. This article at slate.com is one of them. He actually aruges that, measured on an inflation-adjusted basis, the current price of gasoline is only slightly higher than it was in 1922. That may be technically true.
Another interesting look is checking how long you have to work to buy a gallon of gas. Right now, it’s about 11 minutes. Check this out.
I went to gasbuddy.com and checked the price of gas in San Diego for the last 6 years. This shows that I am paying more than $4 a gallon now. I went to $3 in about October 2007, and to $2 at about February 2005.
It now costs me over $70 to fill up my tank of 17 gallons, and I am used to that. Last October, just about half a year ago, it cost just about $50, and I remember what a shock that was when I first broke that barrier. In February of 2005, of course, it cost $35.
So you can tell me all about adjustment for inflation, or that gas costs $8 in Europe. I am shelling out a whole lot more money today for gas than I did 6 months ago. It has gone up drastically, no matter how we rationalize it.
But of course, oil executives have nothing to do with that, check the New York Times.
Remember the California brown-outs, just before Enron sank?