geraldrobins
MB Enthusiast
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I dont think fuel prices have risen more than anything else compared to the 70s. salaries, bread petrol all up about 20 fold
A light hearted post for the older members amongst us
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I dont think fuel prices have risen more than anything else compared to the 70s. salaries, bread petrol all up about 20 fold
renault12ts
MB Club Veteran
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- Mar 5, 2009
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^ Indeed...I got my first car in 1977...the price of a gallon being 75p it isn't even 10 times that amount now...look at the price of houses and cars though, and the average wage.
w124nut
Active Member
The following data is about 15 years out of date but it is quite a good indicator of the value of fuel through the years.
I can't remember where I copied it from so apologies to the originator.
Retail Petrol Prices: 1902-99 (at 1999 prices)
In 1999 the average retail petrol price of four-star petrol was about £3.46 a gallon.
During the 20th century, petrol prices have been higher during the oil crises, the Suez war and 1906-21. At 1999 prices during the oil crises, a gallon of petrol was about £3.60-£3.68. After the Suez war (1957) and from 1906-21 the price of petrol was significantly higher in real terms than in 1999.
In 1957 a gallon was equivalent to £4.16 and in 1916 a gallon cost equated to £6.65. Petrol was cheapest in 1928 and 1949 when it cost £1.77 and £1.92 respectively. In recent history, petrol was cheapest in real terms in 1990 at £2.40 a gallon.
The increases in petrol prices from 1909-21 were due to taxation. In 1909 a consumer’s tax of 3d was imposed and doubled in 1915. In 1921 the tax was removed completely. The price of petrol fell from £4.58 to £3.08 a gallon in 1921-22.
From 1928 to 1938 duty was introduced on light hydrocarbon oils and raised from 4d to 9d over the period. From 1939 to 1950, petrol rationing held the price of petrol down.
Since 1990, the increase in petrol prices can be partly attributed to rising taxation. And during this period the spot price of a barrel of North Sea crude oil has fallen by about 30%. Despite this fall in oil prices, retail petrol prices have risen significantly.
Note:
To convert the figures into price per litre, divide by 4.54609.
The data should be treated as a guide only of prices at 1999 levels. Pre-1914, petrol prices were not clearly recorded and motorists often paid what the retailer demanded
I can't remember where I copied it from so apologies to the originator.
Retail Petrol Prices: 1902-99 (at 1999 prices)
In 1999 the average retail petrol price of four-star petrol was about £3.46 a gallon.
During the 20th century, petrol prices have been higher during the oil crises, the Suez war and 1906-21. At 1999 prices during the oil crises, a gallon of petrol was about £3.60-£3.68. After the Suez war (1957) and from 1906-21 the price of petrol was significantly higher in real terms than in 1999.
In 1957 a gallon was equivalent to £4.16 and in 1916 a gallon cost equated to £6.65. Petrol was cheapest in 1928 and 1949 when it cost £1.77 and £1.92 respectively. In recent history, petrol was cheapest in real terms in 1990 at £2.40 a gallon.
The increases in petrol prices from 1909-21 were due to taxation. In 1909 a consumer’s tax of 3d was imposed and doubled in 1915. In 1921 the tax was removed completely. The price of petrol fell from £4.58 to £3.08 a gallon in 1921-22.
From 1928 to 1938 duty was introduced on light hydrocarbon oils and raised from 4d to 9d over the period. From 1939 to 1950, petrol rationing held the price of petrol down.
Since 1990, the increase in petrol prices can be partly attributed to rising taxation. And during this period the spot price of a barrel of North Sea crude oil has fallen by about 30%. Despite this fall in oil prices, retail petrol prices have risen significantly.
Note:
To convert the figures into price per litre, divide by 4.54609.
The data should be treated as a guide only of prices at 1999 levels. Pre-1914, petrol prices were not clearly recorded and motorists often paid what the retailer demanded
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