Question about gas prices

[Orrex]

We've all heard the apologists frothing about how the current gas prices aren't as bad as they were in the good ol' days, once we adjust for inflation. Apparently, a gallon of gas in 1974 was $7,000.00 in today's dollars.

But does all that number-crunching take into account the relative income level of the average citizen? I mean, if John Q. Gasguzzler's adjusted 1971 income would be, say, $50,000 in today's market, what does that say about today's average schmo who earns $30,000?

Are the numbers as straightforward as they're made out to be? (That's a rhetorical question, because that answer is always "no").

There must be a better scale on which to judge today's gas prices than simply to hold them up to a quasi-imaginary yesterdollar.

Thanks, George--for a while there I was afraid that I'd be able to buy food and fill my gas tank. Now I don't have to worry about succumbing to such excesses.

[BlueEyedSon]

1. Good question. What is "todays dollar" valued at, if not in relation

to wages?

[zbdent]

2. Notice, they never show the minimum wage as adjusted for

inflation - since its inception . . .