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#10 |
![]() ![]() ![]() Drives: 2010 Carmine Red hatchback Join Date: Mar 2009
Location: Colorful Colorado
Posts: 208
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OK.....I crunched the numbers using minimum wage instead of median income. As expected the percentages are higher and the fluctuations greater, but again, aside from the spike in 1980 & again in 2005 the numbers are pretty consistant.
Here's the breakdown for my chart: Year/hourly minimum wage/price of gal of gas/ratio of gal per hour 1960/$1.00/$0.31/31.0% 1965/$1.25/$0.31/24.8% 1970/$1.60/$0.36/22.5% 1975/$2.10/$0.57/27.1% 1980/$3.10/$1.25/40.3% 1985/$3.35/$1.20/35.8% 1990/$3.80/$1.16/30.5% 1995/$4.25/$1.15/27.0% 2000/$5.15/$1.52/29.5% 2005/$5.15/$2.48/48.1% 2010/$7.25/$2.72/37.5% It's harder to quantify, but it looks like generally speaking, we have always paid about 35% of our hourly minimum wage on a gallon of gas. I should probably do each and every year to get a clearer picture.....this one has too many fluctuations to do every 5-years (but I wanted an apples to apples comparo). |
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