What was the price of a gallon gasoline in 1960 1983 dollars?

To calculate the price of a gallon of gasoline in 1960 in 1983 dollars, we need to take into account the rate of inflation between the two years. The inflation rate from 1960 to 1983, calculated using the Consumer Price Index (CPI), was approximately 244.01%. This means that $1 in 1960 had the same purchasing power as $2.44 in 1983.

According to the U.S. Energy Information Administration (EIA), the average retail price for a gallon of regular unleaded gasoline in 1960 was approximately 25 cents. To express this price in 1983 dollars, we can multiply the 1960 price by the inflation rate:

25 cents x 2.44 = 61 cents

Therefore, the price of a gallon of gasoline in 1960, expressed in 1983 dollars, would be approximately 61 cents.