Hello, Memory Hole! Dial us back to March 14, 2000, please!
The average price of gasoline now is up to $1.54, higher than the $1.38 average in 1981.
But that 1981 price of $1.38 translates to $2.29 in today's dollars, adjusted for inflation, according to the Cambridge Energy Research Associates. And that price was, and still is, the highest-ever price paid for gasoline in the United States.
Things changed not long after. As Mary Mancini at Liberadio notes,
... the average price of gas rose a stunning $1.50 between January 2001 and August 2006 when Republicans had control of both Congress and the White House ...
Oh Noes! That shoots holes in Gill's half-baked theory. And the records keep falling:
Gas prices remain at record highs
The average price of a gallon of self-serve regular gasoline in the Sacramento area is $3.83, up 2 cents in a day, almost 23 cents higher than last month, and more than 53 cents higher than a year ago.
Diesel in Sacramento averaged $4.343 a gallon on Friday, up 21.1 cents in a month and more than $1.18 higher than on this date last year.
Every one of the 25 markets AAA tracks in California set record high prices this week.
"Industry analysts report that oil and wholesale gasoline continue to break records because of investment in these commodities due to the declining value of the dollar, and this is pushing gas prices to daily records at the pump," Auto Club spokesperson Jeffrey Spring said in a statement.
Here’s a neat little photo I found over at Attaturk’s place that might jingle a few bells as far as high gas prices are concerned:
Someone needs to explain to me how someone this dumb can get a column in The Tennesseean and a gig as WKRN's "chief political analyst."