High gas prices. We discuss it almost daily on NBC Action News Today. Usually the information is negative. We do a lot of stories on the high pump prices, the soaring profits of the oil companies, familes trying to pay for fuel, or what politicians think should be done about it. Of course many drivers share their disgust on our air. But there is some good news.
(The above pic was taken May 10, 2007 )
Our partners at the Kansas City Star report it's not so bad. In Monday's editorial section of the Star, they discuss the good (and the bad) of the current oil economy.
Here's a brief look into their math:
Prior to this year, the average price of gasoline hit its record high in 1981, at a cost equal to $3.17 a gallon in today's dollars. Back then, the average car got 16 miles per gallon.
The bottom line: Gasoline costs motorists 19.8 cents per mile back then.
This spring gas has hit $3.50 a gallon in many parts of the nation. But the average new car today gets 27.5 miles per gallon.
So, gasoline costs drivers 12.7 cents a mile now. That's 35 percent less than in 1981, accounting for inflation.