| Re: past petrol prices - is it really that expensive now? |
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Group: uk.transport · Group Profile
Author: MortimerMortimer Date: Jul 2, 2008 09:55
"Peter Lynch" wrote in message
news:slrng6nbts.i42.pete@freyr.local...> Among a box of old papers and other junk, I dug (sorry, should
> that be doug?) out an old petrol receipt from 1987. It was 29.32
> litres of 4-star, which makes it 37.5 p per litre.
> So in 21 years, the price is a little more that trebled. Compared
> to other things (OK, excluding tech.) that doesn't sound too bad.
http://www.thisismoney.co.uk/historic-inflation-calculator suggests that
37.5p at 1987 prices would be worth 75.4 p at today's prices - an increase
of (75.4-37.5)/37.5 = 101%% as opposed to the actual increase of
(120-37.5)/37.5 = 220%% (I think petrol is about 120p - I used diesel so
that's the price I know better).
Diesel has probably gone up by a greater factor. I think in the late 80s
diesel was still a bit cheaper than petrol and now it's more expensive -
typically 130p. Still, running my diesel car (Peugeot 306 2 litre - 50 mpg)
is cheaper than my older petrol car (VW Golf 1.8 litre - 37 mpg).
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