Quote:
Originally posted by tw
The problem is that prices today just are not high. At $1.73 per gallon today, that is $0.84 in 1981. You do remember, gas prices in 1981 were over $1.00. I recall something like $1.20 per gallon. A $1.00 per gallon price in 1981 is $2.06 per gallon today. Gasoline prices are still low.
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Especially when you consider that their are more taxes on gas now then there were then. The federal tax was 3 cents a gallon in 1981 and is now 18.4 cents a gallon. State taxes have probably also risen.
The Federal Excise Tax on Gasoline and the Highway Trust Fund: A Short History
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