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• mgarfias 5y ago
  The graph says it all. There haven’t been any technological changes in oil refining to make gas change in value. That it costs more per gallon in raw dollar terms means that the value of the dollar relative to the value of a gallon of gas has dropped massively. Even more if you figure that today’s cars are pretty damned efficient and use way less gas than a car from the 70s, so we extract more value from a gallon of gas in terms of work performed.