Gas bargains

Gasoline prices are a hot topic right now. Most news reports are focusing on what is being described as historic high per-gallon costs at most U.S. pumps.

But are today's gasoline prices the highest ever?

Not according to one oil company's Web site. ChevronTexaco.com says, "Gasoline today is less expensive than it was more than two decades ago, according to the Consumer Price Index, a program managed by the U.S. Bureau of Labor Statistics. In California, where prices are higher than the national average, gasoline prices in 1980 were $2.78 [a gallon], adjusted for inflation. That compares to an average price in the state of $2.15 as of April 19."

Many of us recall the gas lines that formed after the Arab oil embargo of 1973. Prices soared at U.S. filling stations, and motorists waited in long lines to get fuel. But a lot of the cars waiting in those lines had tanks that were more than half full. Many motorists were waiting to get gas because they were panicky -- much like Southeast Missourians who rush to buy milk and bread whenever the weather forecast calls for ice or snow.

Not only is gasoline still a bargain in this country compared to what we've paid in the past, it's also still a bargain when compared to fuel prices in most other countries, except those oil-producing countries whose governments keep the prices artificially low.

In the United Kingdom, gasoline is about $5.25 a gallon. In the Netherlands, it's over $5 a gallon. Motorists in Sweden, Germany and Japan are paying $4.25 to $4.50 a gallon.

The cheapest gasoline in the world can be found at pumps in Caracas, Venezuela, where a gallon costs 14 cents a gallon. That's right: 14 cents.

A good part of the price retailers charge for gasoline is government taxes. Something else to keep in mind is that most countries with the highest gasoline prices also have reliable public transportation.

Gasoline isn't the only item we buy by the gallon. Ice cream and milk prices are going up too. And bottled water is much more expensive than gasoline. So is beer.

Those who remember when gasoline broke the $1-a-gallon barrier have gotten comfortable with fuel that costs well over a dollar a gallon. Now the $2 barrier is being surpassed. We'll see how long it takes to get cozy with that.