How Low are Gas Prices? Probably Lower Than You Think
By David Gross
Driving past this sign in Dallas, I couldn't help but wonder: "When was the last time the annual retail price for regular unleaded fell in the $1.30 to $1.40 per gallon range?" Turns out, the year was 2002. However, that's not the big story.
We went back to 1929 (the start of the Great Depression) and looked at retail prices adjusted for inflation. The lowest price we found? $1.65 in 1999.
The implications for the US and global economy are substantial. Check out Brittany Chang’s in-depth look at low gas prices for an extensive list. Are there other implications? If yes, share them below!