Monday, 12 November, 2001
Gas is Cheap!
Yesterday I paid 95 cents per gallon for regular unleaded gasoline. That's just amazing. In July the price was at least $1.30. On my way to the airport this morning, the lowest price I saw was $1.04--the price changed 10% in a single day. Weird. Gas is cheaper now than it was in 1987, even if you don't count inflation. I remember paying $1.10 or more per gallon back then, and I recall paying less than 90 cents just two years ago. I don't know what the inflation rate has been for the past 15 years, but it certainly hasn't been negative.
I don't understand people complaining about the price of gas. Perhaps people on average drive more than I do. I've averaged about 13,000 miles per year over the last 6 years. At 22 miles per gallon (my truck's average), that works out to almost 600 gallons of gas per year. Even at $2.00 per gallon, that would be a pretty small percentage of my annual expenses. My round trip to work is 50 miles, which I've been led to believe is "above average." Maybe people who are complaining about the price of gas should think about driving less or getting a more fuel efficient car.