"Elwood Dowd" wrote in message
...
So the price of oil nearly did hit $60/barrel, but it was in the early
'80s.
Still, even in 1983 the price of gasoline never came near $2/gallon.

I hate to be the voice of reason---but has anyone considered the massive
inflation rate between then and now? How does our $2/gallon translate
into 1983 dollars?


How does the price of oil translate into 1983 dollars?

Inflation might be one reason gas costs more now (although describing the
rate of inflation from 1983 until now as 'massive' might seem extreme to
anyone who lived in the late '60s or the '70s). It certainly does not appear
to be the price of oil, which does not seem to have kept up with inflation
during that time.