The Price of Gas

I noticed the other day when I filled up with gas that I was paying more than before. At 127 yen/liter, at today's exchange rate, that's about US$4.37/gallon.

Considering, though, that 10 years ago the price was about 99 yen/liter, at the exchange rate at the time it was $3.84/gallon. So, in 10 years, gas prices here have gone up about 30% in local (yen-priced) terms, and 11% in global (dollar-priced) terms.

Now consider America: gas at the station near our Cupertino house is currently $2.71/gallon. I don't know what US gas cost 10 years ago (I was in Japan), but I know that I've paid less than $0.99/gallon at that station since then (in about 1999 or 2000). So, gas in America has almost tripled in the last 10-or-so years.

I don't know what to make of these numbers... just noticing that it's odd. Maybe the US market price is catching up with the world market price....


All 4 comments so far, oldest first...

I think that “$0.99/gal” price may pre-date 1999/2000 … in fact, I can’t remember ever seeing gas that cheap since I moved to CA in late ’98.

Maybe this was 97-98 you saw that pricing?

Doesn’t invalidate the “prices have tripled” logic, really, but just a revision. 🙂

— comment by Derek on August 25th, 2005 at 9:14pm JST (12 years, 4 months ago) comment permalink

I came to USA in Oct 98. And I have filled up at $.97 at costco gas stations in early 1999 as well.

— comment by chetan on September 2nd, 2005 at 1:21pm JST (12 years, 3 months ago) comment permalink

Ah yes, gas prices….higher in Canada, as always, so be forewarned.

But, in France I remember seeing it anywhere between US$5.50/gallon and US$6.25/gallon at the beginning of August 2005.

In El Paso, in June 1999, I paid a whopping US$0.87/gallon. I’ll never forget how cheap that was!

— comment by William on September 4th, 2005 at 11:39am JST (12 years, 3 months ago) comment permalink

On channel 4 news last night in Utah they did a story about a new website that mapped the gas prices for your area. The name of the website is http://www.mapgasprices.com. It’s done by the same people that did the mapsexoffenders.com website a couple of months ago. Does anyone know of any other resources for watching the gas prices?

— comment by Richard on September 16th, 2005 at 7:55am JST (12 years, 3 months ago) comment permalink
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