1950 Gas Price in Today's Dollars (2024)

FAQs

1950 Gas Price in Today's Dollars? ›

Thanks to Inflation and Steady Prices, Gas Was Cheaper 20 Years Later. By 1950, gas prices had jumped to 27 cents, about $3.40 in today's money. The next two decades were much like the two that preceded the war. Fuel prices held remarkably steady, climbing only to 34 cents by 1969.

Thanks to Inflation and Steady Prices, Gas Was Cheaper 20 Years Later. By 1950, gas prices had jumped to 27 cents, about $3.40 in today's money. The next two decades were much like the two that preceded the war. Fuel prices held remarkably steady, climbing only to 34 cents by 1969.

Throughout the 1920s, gas prices averaged 21 to 30 cents per gallon. As the Depression deepened, demand fell and competition for customers intensified. By 1930, prices were down to 20 cents per gallon and would continue to fall for the next decade. In many areas, gas prices were less than 10 cents a gallon.

"Fill 'er up!" A gallon of gas cost 30 cents in 1920. That would be equivalent to $3.87 per gallon now.

Eight dollars for a gallon of gas. Once, it seemed like an impossibility; now, it seems to happen in California every time there is a price spike. Last week, a Chevron station in Los Angeles recorded prices of $8.35 and above; similar prices were reported at multiple stations around Southern California.

So what was the cost of items 100 years ago? But keep in mind, wages were much lower. The average household income in the United States in 1920 was about $3,269 a year. So starting with a nice good-size home the cost was about $6,300.

How much did a dozen eggs cost in 1920? ›

In 1920, for example, a dozen eggs averaged 68 cents, a whopping $8.83 in today's dollars.

1965: $1.05 per gallon.

What year did gas go over one dollar? The average price of gas first went over $1 a gallon in 1980, when it went from $0.86 per gallon to $1.19 per gallon.

A gallon of milk was 83 cents and one dozen eggs were 60 cents. A pair of ladies' casual shoes was $2.98.

While gas stayed below a dollar from 1929 until 1980 (a period of 51 years) it doubled in the four years from 1979 to 1983. I guess we showed them. To be fair it did go back down slightly in the late 1980's, but after that, a dollar a gallon gas was just a fond memory.

Question: M In 1950, a loaf of bread cost $0.12 and today it costs $2.37 on average.

Cars & Clothing

In 1950 the average cost of a new car was $1,510.00 and by 1959 was $2,200. Now, it is nearly $14,000.