The price of oil, despite adjustments to inflation was what in the 1940s? 1950s? 1960s? 1970s? 1980s? 1990s? How are the prices determined? Was it by a particular association?
2006-10-04 12:04:00 · 3 answers · asked by Mav L 1 in Social Science ➔ Economics
Red color is adjusted for inflation
Black is NOT adjusted for inflation
http://inflationdata.com/Inflation/images/charts/Oil/Historical_Oil_Prices_Chart.htm
2006-10-04 13:24:39 · answer #1 · answered by Zak 5 · 0⤊ 0⤋
Taxes and greed, when I lived in Colombia south America fifteen years ago, the gas there was thirty cents a gallon and that was not subsidized like in Venezuela now. I think in Venezuela today it is nine cents a gallon but that isn't the real price..but I do remember in the fifty's in the U.S. gas was fifteen to eightteen cents..
2006-10-04 19:18:56 · answer #2 · answered by xyz 6 · 0⤊ 1⤋
No, it's not the same!! . . . . . . . . . Oil prices are determined by politicians and ONLY politicians!!
2006-10-04 19:08:12 · answer #3 · answered by ? 5 · 0⤊ 2⤋