Compare 1974 gas prices to 2010 gas prices?

In 1974, the average cost of a gallon of regular gasoline (which was leaded in '74) was 53 cents. In 2010 (as of June 8, 2010) the average price of a gallon of regular unleaded gasoline is $2.718. However, that 53 cents figure from 1974 is the equivalent of about $2.34 per gallon in 2010 dollars.