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Gas Prices Through History [Updated]We might deny it. We might diminish its importance. We might not like it. But the fact is that gas prices are intrinsically linked with the overall economy in the U.S. and have been for decades. Oil gluts and crises
consistently correlate with economic prosperity and recessions, especially when Bad Prices ArisingThe most famous and impactful shock to the oil economy that’s often spoken about is the
energy crisis of the 1970s. OAPEC (the Organization of Arab Petroleum-Exporting Countries) shattered policy-makers’ assumptions about their reliance on American trade, and prices shot up from Bad Times TodayWe are currently experiencing some of the highest gas prices in U.S. history, with the average gallon of gas costing $4.90. Inflation has caused a surge in pricing for many things, including gas, groceries, and travel. High gas prices have not only impacted the wallet of the average American driver Earthquakes and LightningWhat’s important to remember is that every time there’s a sharp increase in oil prices, it also affects people’s lives. High oil prices have a negative impact on retailers, the auto industry, public transportation, grocers, employees’ raises, new jobs, unemployment, and the economy overall. High oil Trouble on the WayAre we breaking the ties of oil prices on the U.S economy? We’re not out of the woods yet. Those two tumultuous decades should’ve reformed the car and energy industries. And they have, but not quickly
enough, and not in the ways we’d like. As we neared an economic crisis in 2009, oil companies Gas Prices in the U.S. Throughout History
Consumer Goods Price ComparisonsPrice of Bread
Price of Milk
Price of Bananas
Price of Electricity
If inflation has hurt your wallet and an emergency expense crops up, TitleMax offers car title loans to help ease the burden. You might also like...What years was gas prices the highest?What is the highest priced gas in history? The highest average gas price was $3.64 in 2012, which is 167% more expensive than a decade earlier. What year did gas go over one dollar? The average price of gas first went over $1 a gallon in 1980, when it went from $0.86 per gallon to $1.19 per gallon.
What was the highest price of gas in the 2000s?In 2004, the United States was recovering from a recession that took place during 2002 and 2003. Fuel costs hit what was then an all-time high, reaching $1.88 per gallon on average.
What's the highest gas price in USA?Which State Has the Highest Gas Prices?. What was the lowest gas price ever?Gas Prices Through History
gas was only 36 cents per gallon in 1970!
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