Gasoline Prices

Archive Report

Factors in Tise of Gasoline Prices

Effect of Current Gasoline Shortage on Fuel Costs

Motorists might dispute IT, but gasoline, a business which involves six of the country's largest corporations, 220,000 retail outlets, 3.7 cents of every consumer dollar and more than one-fifth of all the energy used in the nation, has been a relatively good buy. According to Platt's Oilgram, a McGraw-Hill daily oil price-reporting service, the average cost of regular-grade gasoline in the 55 key U.S. markets surveyed was 37.29 cents a gallon—25.43 cents for the gasoline and 11.86 cents for federal and state taxes—in October. The average pump price in 1961 was 30.76 cents a gallon. In just over 10 years, the cost of gasoline went up 21.1 per cent. In contrast, the ...

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