Category Archives: Inflation

How Many of Gallons of Gas Can You Purchase With Your Weekly Income?

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The average weekly income in the US has been going up in the last fifty years, at least in nominal terms, as seen in the first graph. The price of a gallon of gas has been trending up as well, with spikes beginning in 2002 up to 2008, when gas prices decreased dramatically as a consequence of the economic recession. In 2010 gas prices increased again and continue rising to this day, as seen in the second graph. It is worth noting that the number of gallons of gas that can be purchased by a person earning an average income has been decreasing steadily since 1998.