Gas Prices and Inflation

This article where it talks about oil hitting $104 per barrel is a little old, given that, as of this posting, oil has hit $108.32 per barrel. The previous record (adjusted for inflation) was $103.76 per barrel. What struck me most is the actual price - $39.50 per barrel in 1980! That's a rate of 171.31% over 28 years. While the price of oil is high, the inflation rate is further proof that we must get our economy under control.