An Eye-Opener For The Younger Generation

[Slogger]

Petrol today - £1. 32 plus per litre.
Petrol in 1968 - when I was 30 years old - 2.66 PENCE PER LITRE. - 12p per GALLON. Don't think my income has risen by that much!!

[dannyk13]

Where ddi you get the price of 12p per gallon?
//
I can remember thinking the world just had to end as we all knew it when the price went to 50p a gallon :eek: But considering the buying power of a £1 in 1968 is now £16.40 - the current price of a gallon of petrol at less than a fiver is actually far better than we think//.

[gingejbee]

...don't think so. Petrol in the late sixties was nearly six shillings a gallon.

[davebro]

recall 4/6 per gallon (23p) but not 12p. I was on £12 per week wages.

Say £0.25 ------> £6 per gal. X 24
wage £12 --------> £500 (average?) X 40

Of course the average wage was probably more than my £12.

[ToraToraTora]

aye, when I were a lad you got cinema, 10 pints, 20 no6, fish and chip supper, cab orme and still got change out of a farthing!

[ichkeria]

Petrol was about 30p a gallon in 1968: adjusted for inflation that comes to around £4.50. So not spectacularly cheaper than today's prices.

[Arrods]

In my day, we had to sit around a candle if it was cold. And if it was really cold, ny dad used to light the candle.

[barry1010]

6 shillings and 6d in 1969 32.5p a gallon
https://www.retrowow.co.uk/social_history/60s/how_much_did_things_cost.html

[ToraToraTora]

arrods, you ad a candle? Loooxury!

[ToraToraTora]

I remember in the early 70s my dad always used to buy a "pounds worth" which was just under 3 gallons. Adjust for inflation and it's pretty close to what we have per gallon today. The funny thing was my dad continued to buy a pounds worth getting less and less fuel until eventually he had to buy more so the garages would serve him!

[johnny.5]

There are about 1.446 billion vehicles on Earth in 2021.
in 1968 there were 216.6 million globally
so just capitalist supply and demand price rises

[dannyk13]

6s 6p looks correct-
https://www.retrowow.co.uk/social_history/60s/how_much_did_things_cost.html

[davebro]

//so just capitalist supply and demand price rises//

Not true - the cost of fuel is determined very much by the country's tax regime. Other countries have much lower pump prices than we do here.

[ToraToraTora]

so, johnny what you're saying is that basically motoring is too cheap, poor people can afford personal private transport.

[johnny.5]

yes i agree however if we all didn't use the petrol and all had electric cars will they then put more tax on the electricity or on the road tax how will they maintain the tax income needed after the fags have gone too

sex tax ?

[johnny.5]

yes and no if public transport was cheaper and more reliable then there would be much less need for personal transport all the time

[ToraToraTora]

correct, fuel tax is 58p per litre + vat so even if it was free it would cost 70p ish. The pump price - 70p - 20% is what they must find it get it out deliver it and make a profit at each stage. When you do the calc fuel is remarkable cheap.

[ToraToraTora]

johnny, I think road pricing will come in at some point.

[davebro]

I suspect it will be road pricing - a black box in the car sends your mileage to the DVLA or whatever and you get a tax bill periodically. Or a mish-mash of several different taxes.

[New Judge]

//When you do the calc fuel is remarkable cheap.//

Indeed it is. Compare this:

Petrol/Diesel: Crude oil must be extracted from the ground (very often nowhere near the UK), transported to a refinery, refined into the various products, transported to a filling station and pumped into vehicles. Cost? Around 75p per pint.

Beer: Malted barley is steeped in hot water (readily available), transferred to a copper and boiled with hops, cooled and a few more hops and yeast added. Allowed to ferment then drawn off and put into containers. Transported to the retail outlets. Cost: £4 a pint.

[ToraToraTora]

TBF judge for a comparison you need to tax the tax off beer!