Not to rain on the nostalgia parade, but in adjusted dollars, gas in 1981 cost $2.80 a gallon. That cost reflects the value of a 2004 dollar versus a 1981 dollar.
In 1981 money, today's gas costs about 90 cents.
In 2004 money, gas in 1974 cost $2.00 a gallon
In 2004 money, gas in 1904 cost $10.00 a gallon
This isn't to say that there's no impact on your wallet, big swings in gas prices have huge impacts, especially on companies who buy lots of fuel. It disrupts their budgeting and hiring practices, and can make them skittish when hiring new workers, causing other prices to rise. You, the consumer aren't really paying much more for gas, but you're paying more than you were for other things. Also, the US is consuming more oil than ever, so it reacts more to changes in prices. Further, taxes on gas don't adjust for lower prices of oil, and have been steadily rising.
The same goes for items like milk. Today's milk is the cheapest its ever been, its just that the average worker is making more money.
This is why I don't like those "You were born in 1945" factsheets and booklets you see around. They don't reflect real money. Yeah, a house cost 10 grand, but you were making 5,000 a year.
Oh, the Wa-Wa in LexPark is like a 1.78 for super two days ago, Sheets tends to run a penny different one way or another. I haven't checked in the last day or two.
I got cheated, I filled up yesterday for $1.61
