I took economics in high school and I look forward
to taking the same class in college. I’ve always wanted
to know why the things in life happened. Like what determines
gas prices. I know that I learn that price fixing was when
one gas station and the other gas station across from it have
the same price. I saw that happen somewhere around
here in Michigan.
I was thinking to myself when was gas lower than it
is now. With bills, college, and everything else, gas
prices ain’t nothing but a burden. The people running
things just love to milk the money right out of a person.
As if money was something that needed to be kept
away, something to be afraid of. That’s how the
people in charge act like when they put a limit on
the money. We not afraid of money, we welcome it.
In Spring 2006, US gas prices went from $1.20 to
$1.40 by May. This grabbed the attention of consumers,
the media, and Congress. by 1998, gas was its lowest
With the exception of Opec Unity, from
1973 to 1985, gas prices have declined
slowly and at a steady rate since 1950.
New fields have been discovered and
improved technology, and infrastructure
have lessened the cost of extracting,
transporting and refining crude oil.
Prices went down hill when the OPEC
agreements fell apart in 1985, and
even with minor blips like the IRaqi
invasion of Kuwait in 1990 and
unusual evens of spring 1996, the
1990s again saw falling gas prices.
The 1992 dollars were adjusted for
inflation. A gallon of gasoline cost
$2.03 in 1980, $1.17 in 1970, and
$1.46 in 1950. It was $1.00 the first
10 months of 1998.If you are curious,
this site tells gas prices by state and
In summary, gas prices back then
was pleasure. The gas prices of today
I know are a pain. In Michigan, I’ve
seen the gas prices go from $4.00 to
$3.29.It’s not as great as the past,
but what a difference it makes.It
feels like money adds up the most
when you giving it out. But for
the customer or consumer gets
much less with
the exception of rich, wealthy or
those with good paying jobs.