Australian Historical Fuel Prices

All the talk about the good old days is not really true. Fuel is roughly the same price now (in consumer buying power) as it was way back in 1929. Cars particularly and trucks used vastly more fuel in the old days so it is quite clear we are paying far less for our fuel per kilometre than grandad in 1930.

This is an American chart but the relationship between US and Australian petrol prices has remained fairly constant over the last 100 years so although the actual figures might vary for Australian records, the yearly cost to the consumer will still average the same. In the last two years the pump price has continued to fall making the chart average good up to the present day.

Average Historical Annual Gasoline Pump Price, 1929-2015

The three columns are:
YEAR, Pump Price(In that year's DOLLARS/GALLON), Pump Price(Adjusted to 2015 DOLLARS/GALLON)
1929 0.21 2.38
1930 0.20 2.30
1931 0.17 2.18
1932 0.18 2.61
1933 0.18 2.66
1934 0.19 2.67
1935 0.19 2.62
1936 0.19 2.67
1937 0.20 2.63
1938 0.20 2.64
1939 0.19 2.56
1940 0.18 2.49
1941 0.19 2.43
1942 0.20 2.39
1943 0.21 2.30
1944 0.21 2.25
1945 0.21 2.19
1946 0.21 1.96
1947 0.23 1.97
1948 0.26 2.09
1949 0.27 2.17
1950 0.27 2.14
1951 0.27 2.03
1952 0.27 2.01
1953 0.29 2.08
1954 0.29 2.08
1955 0.29 2.05
1956 0.30 2.04
1957 0.31 2.05
1958 0.30 1.96
1959 0.31 1.94
1960 0.31 1.95
1961 0.31 1.91
1962 0.31 1.88
1963 0.30 1.84
1964 0.30 1.82
1965 0.31 1.83
1966 0.32 1.83
1967 0.33 1.84
1968 0.34 1.79
1969 0.35 1.77
1970 0.36 1.72
1971 0.36 1.67
1972 0.36 1.59
1973 0.39 1.62
1974 0.53 2.03
1975 0.57 1.98
1976 0.59 1.96
1977 0.62 1.94
1978 0.63 1.83
1979 0.86 2.31
1980 1.19 2.95
1981 1.31 2.97
1982 1.22 2.60
1983 1.16 2.37
1984 1.13 2.23
1985 1.12 2.14
1986 0.86 1.61
1987 0.90 1.64
1988 0.90 1.59
1989 1.00 1.70
1990 1.15 1.89
1991 1.14 1.81
1992 1.13 1.75
1993 1.11 1.68
1994 1.11 1.65
1995 1.15 1.67
1996 1.23 1.76
1997 1.23 1.74
1998 1.06 1.47
1999 1.17 1.60
2000 1.51 2.02
2001 1.46 1.91
2002 1.36 1.75
2003 1.59 2.01
2004 1.88 2.32
2005 2.30 2.74
2006 2.59 3.00
2007 2.80 3.16
2008 3.27 3.61
2009 2.35 2.58
2010 2.79 3.02
2011 3.53 3.75
2012 3.64 3.80
2013 3.53 3.62
2014 3.37 3.40
2015 2.45 2.45
Sources:
Energy Information Administration, Monthly Energy Review, Table 9.4.

U.S. Department of Commerce, Bureau of Economic Analysis, National Income and Product Accounts, Table 1.1.9. Implicit Price Deflators for Gross Domestic Product, February 2016.

Here is the full page with a graph that demonstrates it clearly.

We are currently running about the 1956 real price.

energy.gov/eere/vehicles/fact-915-march-...pump-price-1929-2015

Lang

Lang for some reason when I was coming home last night in the truck I got to thinking I reckon in real terms fuel is cheaper now than it was 20 years ago and maybe even 30 years ago

I know a lot of people will go B.S. to that but if you think about the cost of a house in Sydney or Melbourne and the cost fuel back in those days I reckon fuel is a lot cheaper

But it sure as heck doesnt feel that way some times

Paul

Paul

The price of fuel is unbelievably low. Going by other liquids it should be $10 a litre.

Consider the cost (and dry well risk) of exploration, drilling, shipping, billion dollar infrastructure ports, pipes and refineries, refining costs, further shipping, distribution, Saudi royalties, plus all the Australian government excise and taxes plus profits for everybody, Geologist to service station.

Name a cheaper liquid? Bottled water - what a joke, 99% water Lemonade, 95% water tomato sauce? Even 98% water milk with its current low price and a tiny fraction of the production cost of petrol is struggling to compete.

The oil companies are the good guys! Where are the complaints about the outrageous ripoffs from Coca Cola, Pepsi, Breweries, Dairy companies, sauce companies, coffee shops, etc who all charge 2 - 10 times the price of petrol for nothing more than coloured, flavoured water! At a recent show I was charged $5 for a half litre bottle of water almost certainly from a city water supply "purified" by the company.

We are getting a good deal.

Lang

any Business who is eligible to claim both the Fuel Grant & GST credit has a NETT cost of under a $1 a Litre for their fuel..
it's been a while since it's been that Low.
Though 2 & 1/2 yrs ago the nett cost was under 80 cents a Litre. Even if only for only a few Months..

I like comparing various prices with the cost of a Schooner of beer over the years.

Fuel hasn't changed in price much in the 40 odd years I've both driving and drinking!

Lang has a very valid point about fuel economy making fuel cheaper by the Kilometre.

House prices are a different story.

In 1975 I purchased a house in Sydney for 7.5 times my annual gross salary of $5,000.00.

Today 7.5 times a 25 year old's salary would be around $300,000.00 or a 1/3 of what you would need to buy the equivalent house.

Zuffen, all the carry on about the Sydney house prices comes down to two things, stop overseas buyers and/or just don't live in Sydney, but on the fuel thing I was very surprised to see Langs info and the comparison between today and all those years ago, maybe my problem is that I still drive fuel guzzlers but that isn't likely to change.

I've always though about fuel prices relative to wages.
When I started driving (42 years ago), I would fill the tank for about 4 hours wages.
Now I gotta work 5-5 1/2 hours to fill a tank.

That one doesn't quite work for me, 5 hours then(just a lowly apprentice) about an hour and a half now, same car though. I usually use the jerry can one $13 then about $28 now.

Eddy

I think that has more to do with the wages you get in your particular job than the price of fuel The dollar equivalent averages are over a whole basket of costs of living not just wages.

Reminds me of a worried phone call I got from my old dad a couple of years back. He had a 1974 Mercedes with 92,000km on the clock.
"Lang, there is something wrong with my car. I had to fill it up twice this month, it has always only needed a monthly refuel." After tracking down his journeys for the month he was finally convinced the extra couple of trips he did over normal may just have needed some extra fuel to complete.

Lang

Lang wrote: Paul

The price of fuel is unbelievably low. Going by other liquids it should be $10 a litre.

Consider the cost (and dry well risk) of exploration, drilling, shipping, billion dollar infrastructure ports, pipes and refineries, refining costs, further shipping, distribution, Saudi royalties, plus all the Australian government excise and taxes plus profits for everybody, Geologist to service station.

Name a cheaper liquid? Bottled water - what a joke, 99% water Lemonade, 95% water tomato sauce? Even 98% water milk with its current low price and a tiny fraction of the production cost of petrol is struggling to compete.

The oil companies are the good guys! Where are the complaints about the outrageous ripoffs from Coca Cola, Pepsi, Breweries, Dairy companies, sauce companies, coffee shops, etc who all charge 2 - 10 times the price of petrol for nothing more than coloured, flavoured water! At a recent show I was charged $5 for a half litre bottle of water almost certainly from a city water supply "purified" by the company.

We are getting a good deal.

Lang

You are correct Lang I am stunned when I here people complain about fuel prices but also buy a bottle of water when they fill up for twice as much per liter
And what makes it even sillier theres a tap out side were you can get all the water you want for free

Paul