If gas prices today were $2.00 per gallon, in terms of history this would be

Question

Quizplus · Accepted Answer

Gas prices have been higher in inflation-adjusted terms in the past, such as in the early 1980s when prices peaked at over $3.50 per gallon in current dollars. However, in nominal terms (not adjusted for inflation), gas prices have been higher in the past, such as in 2008 when prices briefly exceeded $4.00 per gallon. Therefore, today's gas prices of $2.00 per gallon are not an all-time high but rather high in inflation-adjusted terms.

If Gas Prices Today Were $2