Price of gas in 1973 oil crisis vs. now, how does it compare?

canfossi · #1 01/09/08, 06:05 AM

Just curious with all the high gas prices currently, how do they compare with the oil crisis of 1973? I wasn't even born yet but, of those of you who were, is gas more expensive now compared to then or are they at about the same rate considering inflation etc? Thanks Chris

Jena · #2 01/09/08, 07:10 AM

I can't tell you the dollar value, but I remember my dad parking the car in line at the gas station at night, then getting up at 5am to gas up the next day. We lived in SoCal. We also could only buy gas on odd or even days, depending on our license plate. I was 16 and just getting my license.

If it's any reference at all...I made $3.35/hour minimum wage. Gas was right about $1.

Jena

ksfarmer · #3 01/09/08, 07:22 AM

Supposedly there was a shortage, since I was farming in '73, I didn't notice any shortage of gas, just higher prices. Now it is about 3 times higher and they don't even try to claim a shortage. Wheat is selling about 3 times higher now too. Fertilizer is 6 times higher than in '73. And why does the media think farmers are making so much money?

turtlehead · #4 01/09/08, 07:28 AM

I remember the long lines of people waiting to buy gas, and I remember only being able to buy on even or odd days depending on the number on your license plate.

I wasn't driving yet so I don't remember what the price was. I do remember my Dad fussing when gas went up to .33 a gallon. Someone said "One day you'll pay a dollar for a gallon of gasoline" and half the folks laughed like it was some really bad futuristic sci-fi movie, and the others, who thought it was possible gas might one day get that high, scoffed and said "Well I'd never pay that much for a gallon of gas. I'd walk first!"

That doesn't really answer your question, but things aren't as bad now as they were then. The gas is expensive, sure, but it's not being rationed.

WisJim · #5 01/09/08, 07:39 AM

Adjusted for inflation, depending on whose "inflation" figures you use, gas in 1973-74 wasn't really expensive, about $2 a gallon in today's dollars, but 1981 was the highest gas prices, adjusted for inflation, until 2007.
Here's one chart, not the best but does show price trends after inflation:
http://www.fintrend.com/inflation/im...tion_chart.htm

The real milepost that I recall must have been in the early 1980s when I could finally put $5 worth of gas in my VW Beetle's tank that held 10 gallons or so if bone dry.

Batt · #6 01/09/08, 07:41 AM

Heard yesterday that gas would have to be $5.25/ gal to equal 1973. Course a lot has changed, and I didn't independently verify that figure. As I recall, gas was <$1/gal & minimum wage was like $1.50/hr. I was making $500/mo, buying a 3/1 house and had 2 y/o car that I had purchased new for $2750. Yep, a lot has changed.

raymilosh · #7 01/09/08, 08:36 AM

The difference in the price of oil then and now was in 1973, the US hit "peak oil" ...we couldn't produce as much as we were using. We had an energy crisis until we found other sources of oil.
In 2006, the planet hit "peak oil". There are no other sources to tap into so the most powerful nations will increase the amount of fighting over the declining supplies and prices will continue to increase permanently. Get used to it. Accept it. Start decreasing your use of oil, gas and propane and things that use thise things (like electricity and food) now. But like NOW.

rafter · #8 01/09/08, 08:48 AM

It was easier to pay for the gas back in the 70's. The main reason was the houses, cars, food...didn't go up to the astronomical amounts they are today.

The prices of these things today is what is making it so hard for people to get by especially when wages are mostly $10 an hour service jobs.

WayneR · #9 01/09/08, 10:39 AM

NBC-Universal virtually screamed going GREEN and conservation during the November sweeps.

They accomplished this by traveling to the South Pole,Greenland and Ecuador.
Consider the entourage' that accompanied these people to these locations.
Consider the energy consumed and resources wasted in order to tell the rest of us how to save energy. One of these "news" anchors also just returned from vacation. She took her family to Marakesh----

Of course, other media is also "guilty" of similar duplicity, but not to this great an extent.

Energy and it's consumption is a 'drug' as addictive and all consuming as that of any Meth or Heroin user .

Everyone is hooked on this energy drug. EVERYONE

Most will continue to drive, fly, buy and spend until they are FORCED to stop by circumstances beyond their control.

Pony · #10 01/09/08, 10:49 AM

I remember paying $1.73 or something for gas back in '76-'77. It didn't last long, but it was a crunch for me. I was paying off my brand new '76 Gran Torino. (First brand new car and I was just 19 years old.)

No matter what it cost back then and what it costs today, we have to learn to reduce our dependence on ALL oil, foreign and domestic. Until people tighten their belts on energy consumption, this situation is going to worsen.

Pony!

Pelenaka · #11 01/09/08, 10:52 AM

In the early '70's my Dad made $75 to $100 a week working in San Dieago Tool & Die. We lived in a 4 bedroom, 2 full baths, double car garage, in Spring Valley a 'burb.
Mom was a stay @ home with her own station wagon. What I wouldn't give to be a SAHM with or without the wagon.
BTW she ran an economical household not frugal, grow your own food, pinch that nickel til the eagle screams uncle family budget as many of us have to now.
When I started driving around '78 gas was .79 in Western New York. Everyone who got in my Mom's car had to put a dollar in the ashtray for gas. Yes, friends sat on each other's laps & Mom always got a full tank of gas.
~~ pelenaka ~~

PineRidge · #12 01/09/08, 11:12 AM

Quote:

Originally Posted by WayneR

NBC-Universal virtually screamed going GREEN and conservation during the November sweeps.

They accomplished this by traveling to the South Pole,Greenland and Ecuador.
Consider the entourage' that accompanied these people to these locations.
Consider the energy consumed and resources wasted in order to tell the rest of us how to save energy. One of these "news" anchors also just returned from vacation. She took her family to Marakesh----

Of course, other media is also "guilty" of similar duplicity, but not to this great an extent.

Energy and it's consumption is a 'drug' as addictive and all consuming as that of any Meth or Heroin user .

Everyone is hooked on this energy drug. EVERYONE

Most will continue to drive, fly, buy and spend until they are FORCED to stop by circumstances beyond their control.

You know Wayne, I would love to see a real live honest to goodness glacier before they are gone, but doing so would cause them to melt faster.

Carolyn · #13 01/09/08, 11:36 AM

I remember the times also, but I lived and still live in ND. I don't remember the lines, BUT we didn't live like people do now! Even as teenagers, we rode bikes or walked everywhere, except maybe on Fri or Sat nites, we might have been able to "drag main" for a while to see whos out and about. We never ever went out to eat, there were no fast food places here. If we went out to eat, it was at a nice restaurant on a Saturday evening where we dressed up and went out as a family. Everything we ate was from scratch. We lived in town, but bought farm eggs and had a big garden, and bargained and bartered for other things. Most people we knew gardened, canned and froze produce. We lived on venison, antelope, game birds and fish. We made all of our clothes (yes, they were very stylish, my mother had modeled for a while in her life,so we had beautiful clothes, although they were homemade). We used plain old shovels to shovel the 3 or 4 ft snowbank sidewalks, ours, grammas and grandpas and my aunt and uncles sidewalks. Even in the winter, during below 0 weather, we still dressed warm and walked or waited until someone was going that way. We lived in a little 2 bedroom house, 2 boys in one bedroom, 2 girls in 1 bedroom and my parents slept on a hideabed in the living room. Many of my friends were in the same situation. I don't know it was in other parts of the nation, but generally most people lived very very modestly here. People don't live like that now. It is a buy it and throw it away world now. "If I don't like it, I will get a different one" kinda idea. Big fancy houses, oh I am not against nice houses, I am now moving into a brand new mobile home, but one that I can easily afford even if things get really tough. I know that people may disagree with me, but I see so much waste and lifestyles have changed drastically around here. I have 3 children 30,28 and 22 and they basically live like I did and still do, well they know more than I did, cause we live in the country now and they have even more survival skills than I did at their ages. The 28 yr old is married and his wife has a difficult time with the concept, but she is working on it. We need to learn to use our resources. JMO Carolyn

farmwife · #14 01/09/08, 11:52 AM

Carolyn,
Thanks for sharing! I remember we only went out to eat when it was a special ocassion. Now, most do it everyday. We only do it for a special time now too. Most food we eat out we don't tend to like anyway. We grow and raise our own, so we are use to very good food.

I am sure people with the big homes will wish they built little when they have to heat and cool it. I am glad for a small home!

Beeman · #15 01/09/08, 12:21 PM

The has shortage in 73 was no big deal to me at least. I was a volunteer fireman so I could buy gas whenever I wanted. My friend worked at a junk yard so we drained the old tanks and stored it in a 55 gal barrel. We drove whatever we wanted and fuel economy was never a thought. Fuel mileage wasn't on many people's minds until the second gas shortage in 79.

Sustainable Joy · #16 01/09/08, 01:05 PM

I was JUST talking about this with DH. Neither of us were born yet, so we don't know first-hand. But culturally the '70's share concerns over energy, and inflation, with today.

canfossi · #17 01/09/08, 01:12 PM

Good points everyone. WayneR, I might add that I read a while back that the upper class people are one of the highest users of energy and consumerisum(spelling), i.e. Trips, buying clothes, tv's, cars etc and getting new one every few years. I have had my vehicle for 11 years and the tv is almost 15 yrs old. I do know that things are much more energy efficient now. Chris

Beeman · #18 01/09/08, 01:14 PM

http://en.wikipedia.org/wiki/1973_oil_crisis

Here's the link about 1973 gas crisis. Gas went up in 73 from .38 to .55 per gal, in 79 it doubled to about $1 a gal.

Do remember that minimum wage was $1.60 per hr. in 73.

Mr.Hoppes · #19 01/09/08, 02:03 PM

Is exactly why I am going to the extreem of purchasing Donkeys and a wagon.

We will use our mini van when necessary ( church ).
I will use my old ford truck as needed ( when the donkeys can't pull it )

We will use Donkeys and wagon as much as possible.

I am usually in no rush to go into town and we already have the feeds available for other animals.

The future impression of this thread being "remember back in 08' when gas was only $3 a gallon?"

I won't walk much, but I'll hook an animal up and let them do my walking.

I am working on self suficiency and feeding natural helps cut the cost of feed and the expense ( Gas ) of going and getting it.

Carolyn · #20 01/09/08, 09:13 PM

Yes, I remember my job at the college in 1973, I was sooo excited because I got $1.71/hr, more than mimimum wage. I walked to and from college, cause I didn't have a car and we didn't have public transportation. Just shy of 2 miles one way. Had good walking shoes

. Wow I sound like my grandpa used to sound LOL. Carolyn