aja8888
Moderator Emeritus
When I started driving in the late 60's, the price of gas was about .35 (cents) a gallon. According to the on line inflation calculator I used that would be $2.39 today.
Having a pretty good idea what it takes to find oil $$$, secure leases $$$, get the oil out of the ground $$$, transport it to a refinery $$$, refine it $$$, transport it again to the gas stations $$$ not to mention all the supporting infrastructure and people $$$$$$$$$ to get all of that done, it's amazing to me that it's so cheap (and plentiful).
It is kind of amazing to see that the price has stayed with the rate of inflation. But for those who don't know the details of the technology of finding oil then getting it to the pump nozzle, the technology has advanced very far since the 1960's. Consider 3D seismic, horizontal drilling, advances in formation fracturing, fluids handling, better refining efficiency, etc.