Monday, July 26, 2010

What were gas prices last time oil was $60 per barrel?

I'm wondering if you add for inflation what gas prices should be!What were gas prices last time oil was $60 per barrel?
Not sure, but here currently in Greenville, TX, we are paying $1.95 per gallon. I thought I'd NEVER see below $3 a gallon ever again. What were gas prices last time oil was $60 per barrel?
The comparison would be irrelevant because their are many other factors that are involved in the price of gasoline in addition to the price of oil. Oil is simply the raw material. Other expenses include labor costs, energy costs, governmental fees, facility taxes and general overhead costs.
All I know is that when the gas prices shot up to $4 a gallon, all the supermarkets raised their prices. Now that gas is back down, the prices are still high. Dang crooks! And people wonder why our economy is in the crapper.
This is a good thing to have the price of a oil at $60 per barrel, the gas prices have gone down..less money spent..more in the pocket

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