A barrel or 42 gallons of crude in 1970 sold at $3.40 . Or the 1970 cost of a barrell of crude was 10 times the price of a gallon A entire barrell of crude was a little less than a gallon of our finest import petrol pump price of $3,60 cents 2011.
Adjusted for inflation the 1970 bbl would be $19.65 cents bbl today. The crude price today is 5 times this amount at $100.00 bbl.
Using the ten times amount a gallon of gasoline would be $3.60 x 10 OR $36.00 a barell all things equal. See if you can get these numbers to work.
Today you pump your own gas then wait in line twice to pay. The 30 cents a gallon figure will divide equally into $3.60 cents 12 times. A car in the sixties would get 15 miles per gallon, lets say.
12X15 equals 180 miles per gallon to stay even with gasoline prices of the Sixties.
Question: Does you car get 180 miles per gallon?
Burma Shave...
12X15 equals 180 miles per gallon to stay even with gasoline prices of the Sixties.
Question: Does you car get 180 miles per gallon?
Burma Shave...
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