Historical Gasoline Prices in Pictures-- I thought it would be fun to look at some pictures of gasoline prices in days gone by. Of course, we have to remember that salaries were much lower in those days as well. Inflation doesn't affect all prices equally. Let's look at how Gasoline Prices and Wages relate since the 1920s. In 1924 my grandfather probably paid around 21 cents a gallon for gasoline. The average wage was about 62.6¢/hour. But that was just the average, a unionized carpenter in Boston would have made a whole Dollar an hour. Imagine paying 15½ cents for a gallon of gasoline. Although we don't have an exact date for these pictures, we can estimate the … [Read more...]
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