It has become almost expected that every time the price of gas goes up a few cents, there will be a news story talking about how people can’t make ends meet.
As a side note, for years I thought “making ends meet” was “making ends meat”. Since I’ve cut up several elk and deer I know a little bit about butchering. I mistakenly thought it meant doing well enough financially to get less choice “ends” cuts of meat to feed your family. Poor but having a few luxuries. Well, obviously I was wrong.
These gasoline stories always frustrate me. The interview people pumping gas who are talking about how bad it is. These stories never provide factual evidence of “how bad it is”. They just get people’s opinions. It is pretty slopping reporting if you ask me.
How about a few facts?
Historic price of gasoline (adjusted for inflation)
Today in the US the average price of a gallon of gasoline is $2.79. So gas is .20 cents more than it was 27 years ago. Consider the fact that gas requires much more refining now due to stricter environmental standards. These numbers also don’t take into account taxes. Taxes in 1950 were 1.5 cents per gallon (5%). Taxes today are around .45 cents per gallon (16%). So actually the oil companies have decreased their price over time and the government has increased their tax 300%. Why exactly are people blaming the oil companies?
Name a commodity that is the same price or lower than it was thirty years ago? Hamburgers? No. Bread? No. Cars? No. Water? NO!
Bottled water is $7.60 a gallon. Coke is $5.33 a gallon. Why are we complaining about the price of gasoline when bottled water is more than twice as much?