2006-07-10 08:28:47 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
I owned a Shell Gas Station in Alpine CA during 1970. I sold gasoline for 35.9 cents for regular and 39.9 cents for premium. My prices were high since I did not have any competition. Closer to town you could get regular for 29.9 cents. I bought a new 1970 Datsun Pickup for $1879.00 including tax, license and a radio.
2006-07-10 08:37:19 · answer #1 · answered by yes_its_me 7 · 0⤊ 0⤋
The question is a little tricky to answer. Dollars are worth less today than in 1970 due to inflation. 35 cents in 1970 is worth to $1.76 today. At $3.00 today, gas would have cost 60 cents in 1970. As you can see, gas has doubled in cost over the last 25 years. Using the exponential growth formula, we can see then that gas has increased, on average, 2.8% per year. That is an almost neglible increase, yet it adds up over time.
2006-07-10 08:48:29 · answer #2 · answered by Chris B 1 · 0⤊ 0⤋
Not sure about 1970...but I was born in 1970 and I have one of those magnets that tells how much things cost back then and it says that a gallon of gas was .55 cents. Don't know how accurate.
2006-07-10 08:33:53 · answer #3 · answered by angeleyes_2921 1 · 0⤊ 0⤋