Gas prices, then and now

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Apr 15, 2013

50 years ago, 1963: Navigation buoys were being placed in Sandusky Bay by the Coast Guard Buoy Tender Tupelo. It took about three days to put all 25 large flashing buoys in place.

25 years ago, 1988: Cesar Chavez, founder of the United Farm Workers labor union, spoke at Bowling Green State University. Chavez’s speech was titled “The Wrath of Grapes.”

10 years ago, 2003: After falling nearly a dime in three weeks, gasoline prices were expected to keep sliding to a national average of $1.56 a gallon during the summer, thanks to lower oil prices and optimism about the war in Iraq.

Comments

milemarkerzero

$.25 difference on Rt. 250 then the crooks along Perkins Ave. Why is that??

enough of the bs

Huhh 2003? Wasnt that during that evil oil hungry tycoon George Bush era? I'm glad we have someone now that's got our best interests in mind in charge!

Darwin's choice

+1

The Big Dog's back

Gas was .65 a gallon when Jimmy Carter was President.

Fromthe419

Gas was .559 when I started driving in 1986, ah the good old days. Could fill my little car up for under 6 bucks.

arnmcrmn

And your avg home owners bank loan was 20% APR. No wonder Carter went down as the all time lame-o, but don't worry Barry has 3 more years to take that role over...he has done fabulous so far.

Football Fan 44089

For perspective, if the $1.56 went up with inflation, it would only be $1.97 today.

murph

Now is worse. Then had price wars with low prices , now it seem they want to see who can go higher. Earlier to day Meijer was 3.05 now 3.49. Both gas and oil took a dive on stock market but gas takes big jump. Can anyone explain that.

Fromthe419

Yes, I can. It's called Quantitative Easing, the more dollars you print out of thin air the more expensive commodities are. It's also a reason to ask why are profits and the stock market at all time highs while those in main street are struggling to make both ends meet. The markets mean nothing to you and I, what is happening in the markets mean nothing when our Fed is creating 85B dollars per month out of thin air.

Fromthe419

The best way to defeat the banking cartels is to get out of debt, quit using your credit or debit cards and start paying with cash. We are all debt slaves to the Fed. There is not one dollar in your wallet that came into existence as benefit to anyone. All dollars come into existence as debt to us all.

arnmcrmn

Worse continued gas prices under any president. Thanks Obie....he gonna pay my gassssssss

tk

And I used to buy milk for .69 a gallon. Darn those dairy farmers!

coasterfan

I know it may be a little inconvenient to point out that the national average gas price reached its highest point of all time in July 2008, at $4.28 per gallon under Bush. Likely the most sensible thing he ever did was to go quietly to his room after leaving office, to ponder just how badly he messed everything up. You know you have a lot to be proud of when you can say that you almost singlehandedly made sure the other party won the next two elections.

I

Coasterfan, in July 2008, crude was at $147/barrel and gas was at $4.28/gallon. Today, under Obama, crude is at $88/barrel, so a comparable price for gas should be around $2.50/gallon. Most stations were selling gas at $3.49, allowing Big Oil to make massive profits. Why don't you complain about that? Because that's how Obama wants it. http://youtu.be/qKdScVerrBU

arnmcrmn

What you fail to realize is that under BUSH, gas was for an 8 year period, MUCH CHEAPER than under OBAMA! Face the facts. You are hanging on a one month high, but what about the last 5 years under Obama where gas has been hanging anywhere from 3.25-4.00 each and every month? Gas has never been at an all time consistent high.

Remember though....Obie said $5.00 for a gallon wouldn't be a bad thing.....as long as it was a gradual increase.

Darwin's choice

But, it's obama, nothing is his fault........nothing! Understand?

Football Fan 44089

A lot has changed since Bush took office. On Energy Information Agency's website, they have a chart that tracks crude oil contracts (http://www.eia.gov/finance/marke...). By the end of the 1st quarter of 2001, 431,000 crude oil contracts traded. In the 1st quarter of 2013, 1,608,000 oil contracts were traded. Have the number of gas stations increased by 1.2 million? Of course not. What happened is a lot of oil is being bought by businesses that have no intention of turning it into gasoline; they're buying it as an investment and will sell at some point down the line.

And I'm not trying to suggest Big Oil has nothing to do with the increase, either. I remember hearing that Hess Oil is closing one of its refineries on the East Coast this spring if it hasn't already. They don't supply gasoline to the Midwest but that still reduces the fuel supply for the nation as a whole.

And the last time an oil refinery was built in this country, Gerald Ford was President.