How Much things cost in 1950
Yearly Inflation Rate USA 1.09%
Average Cost of new house: $8,450.00
Average wages per year: $3,210.00
Cost of a gallon of Gas: 18 cents
Average Cost of a new car: $1,510.00
Stromburg Black and White Television: $249.95
Ball Point Pen: $0.25
Samsonite Case: $25.00
Clock Radio: $59.95 Source: http://www.thepeoplehistory.com/1950.html
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According to http://www.tvhistory.tv/1950%20QF.htm, it was twenty seven cents a gallon. The minimum wage had skyrocketed up to $0.75 from a low of $0.40 in 1948 and the average annual income was $3,800. A new car averaged $1,700.
In 1968, the price of gasoline averaged $0.33 per gallon. Adjusted, that is about $2.31 in 2007 dollars. Not really much better than today.
- wjs1632 -
The average cost for a gallon of regular gasoline in 1957 was: 31 cents (about $2.41 in 2010 dollars).
WOW too bad we can't live in the past! Would you believe 24 CENTS? See the Related Link.
Gas prices in 1958 ranged from $.24 to $.30 cents per gallon. Keep in mind that minimum wage was $1.00 per hour.
i think it was 55 cents
When I was a teenager in the mid 50's I remember gasoline was .25 - 30 cents a gallon so probably a barrel of oil was in the $10 range.
2-21-2011 $3.09 a gallon in Illinois 3.50 to 3.85 in CA. I expect 4.00 a gallon within weeks.
5-6 cents
A gallon of milk cost $1.01 in 1958