If every “close encounter” with a petrol station these days gets you into a bad mood and you slowly start believing these gas prices are from another planet, this diagram might not be helping either.
Forbes Magazine brushed up a chart with data from the Commodity Research Bureau and the US Department of Commerce showing the development of oil prices from 1861 to 2008. Data is charted in real prices (constant 2008 Dollar) and nominal.
When you look at this diagram it shows that in the last weeks we have just topped the previous peak price levels (109.69) set in 1864. At that time you had to go to a pharmacy to buy petrol. Seems like now the prices are back at pharmacy level again.
Click on the image below for the link (multimedia)
More information:
Forbes Magazine info graphic
US Department of Commerce web site
Commodity Research Bureau web site
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