TRUST INDEX: Are gas prices the highest they've ever been?
The belief that gas is the highest it’s ever been has been on the minds of many Americans as the average price for regularnationally. But experts who monitor gas and oil prices said it’s not the highest when you account for inflation.
Patrick De Haan is with Gas Buddy and said it was considerably higher in 2008 during the spike where the cost of regular unleaded nationally was listed at $4.11. “You adjust that 2008 record for inflation and that would be the equivalent today to $5.25 so there is still some room before we really start to feel the pinch as we did in 2008,” said De Haan.
There were also several years where Americans were paying a higher percentage of their income to gas. Joe Krier is with IIWII Financial LLC based in Jacksonville. He said Americans paid a higher percentage of their income for gas during 2008 as well as parts of the 1970s and 1980s. “It’s actually a little bit less and that’s good news and bad news.
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