Everybody remembers paying a small pittance for gas "back in the day." I distinctly remember paying about eighty cents for a gallon as a high school senior, filling up my 1977 Toyota Corolla for less then ten dollars. However, as you can see in this graph, I was really paying about $1.60/gallon in 2004 dollars.
In fact, that 25 cents a gallon your parents paid in 1950 is equal to about $2.00/gallon in 2004 dollars. I'd like to see an updated graph.
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