Can you remember what you paid for gas as a teen? Here’s a look back at how prices have changed over the years.
The price for gas has gone down to record lows this month as the coronavirus pandemic sends the U.S. economy into a downturn.
Houston-area gas stations are reporting an average of $1.57, however many Houstonians are seeing much lower prices. The lowest reported was $1.15 a gallon.
Over a 10-year period, Houston has paid $2.58 a gallon on average, according to the U.S. Energy Information Administration.
But how much was a gallon of gas 50 years ago?
Because Houston is located close to oil refineries, gas prices in the year 1960 were between $0.31 and $0.50, which is the equivalent of $2 adjusted for inflation.
The national average was $0.32 according to the U.S. Department of Energy. The number was stable until 1975, when prices rose to $0.60 after the end of the Vietnam War.
By the year 2000, gas prices averaged at $1.51 per gallon.
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