When I started driving.

[Jet Cash]

I've just had my 80th birthday, and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself. They keep saying inflation is low, but that doesn't seem low to me. Right now the producer price ines is up over 36%, and that is a more realistic indicator than the retail price index bandied about by the government.

It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

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[Husires]

Happy birthday and I wish you a long life full of happiness.
Oil is not an ideal commodity to measure inflation, as it is related to supply and demand, and political fluctuations affect the price of oil more than inflation, and the chart below can give you a better concept of how political fluctuations affect the price.

Recently, there have been many suppliers of oil, and if political problems are resolved, for example in Venezuela and Libya, oil prices will fall sharply.

[jackg]

Happy 80th!

From what I can tell, the main thing to have risen is fuel and oil (which in number seems like it's up 100%) - your van probably makes you notice this a lot and so your comparison might even be higher than the 35%.


Regarding this being a way to pass money to the elite, that does look like the case. Before it was supply and demand - but both of those likely stayed the same over the longer term for oil (or with just slightly more demand) but not by 50-100%. Perhaps companies are realising their time with oil might be coming to an end and are going to slowly push the prices higher - electric cars and vans are cheaper to power but more expensive to make and produce (and electricity is high cost now too - I'd guess that's a similar reason since 50%+ of the UK and EU's energy supply comes from renewables).

Tldr: it looks like an outcome of extreme deregulation somewhere imo.

[Jemzx00]

Happy 80th Birthday! 🎉 I never expected someone with that age are still into bitcoin, I thought most of the holders are from the age group of 18-50 years old.

Anyways, it looks like almost all things have rise in prices, not only petrol. Within the years, a lot of things have change and inflation have affected almost any type of commodities out there.

[Ultegra134]

Happy 80th birthday! Wish you the best.

I bought my first car in 2017, I was 19-20 years old, so I'm pretty fresh at driving. Petrol was still considered expensive back then, costing an average of €1.50/liter for 95 unleaded petrol. It only became cheaper during the first quarantine due to Covid-19, reaching €1.30/liter.

Currently the average price in my area is €2.45/liter, filling up my car would cost more than €110, while the max I'd spent the past years would be €50 - €70.

[Sterbens]

I've just had my 80th birthday, and I've been reflecting on some of the changes I've seen. When I started driving I could ask for 4 gallons of petrol ( there weren't any serve yourself pumps then), and I could give the attendant £1, and say keep the change. $ gallons today will cost over £36, and I have to serve myself. They keep saying inflation is low, but that doesn't seem low to me. Right now the producer price ines is up over 36%, and that is a more realistic indicator than the retail price index bandied about by the government.

It really does seem to be a way for the super-elite with their hereditary wealth to increase their asset value at the expense of the bulk of the population.

First of all I wish you a happy birthday, may you always be in happiness and health, and may we still be able to price Bitcoin up to $100K.

The government will always cover up its weaknesses for various reasons so that inflation will improve and decrease. But in the field, we as citizens experience rejection, where every retail sale or subsidized proves the fact that gasoline prices have never dropped. So who has absolute truth when our daily fuel forces us to spend huge sums of money? At least we know that the way the super-elite invests wealth is by enriching their offspring, not giving us cheap prices.

[Alisha-k]

Happy birthday i wish you the best the world has to offer.
Prices has been up since 2020. The change in price happened gradually changing the total cost of commodities but so far no government will want to admit their effort lead to inflation. Getting a car in this era is quite expensive and the cost of maintenance is discouraging. petrol cost is like a sector of the economy that got its price hiked. This is like a general challenge even down to food stuffs.

[Freeesta]

Happy birthday! What a wonderful age and you are an active person! I wish it continued like this for many more years! You have the opportunity to compare the standard of living over a long period of time. This is very interesting to watch. Currently, prices have increased not only for gasoline. Prices have changed and continue to change for many things. I went to my car service and was unpleasantly surprised that there, too, the price for car maintenance has changed.

[philipma1957]

Cheapest price I paid for gas was about 39 us cents per gallon.

recently paid $ 5.09 usd per gallon

[hugeblack]

Happy 80th Birthday! 🎉 Perhaps the United Kingdom and many European countries did not experience a crisis like this, except for a similar crisis that occurred in the year 1971 when oil was cut off from most countries, but at that time there was no dependence on it as is happening now.

The world is changing fast and I hope the worst is over and the dark days are in the past, even though reality belies that.

[DrBeer]

80 years - my congratulations, from the bottom of my heart!

What you described, I would not associate with the "world government" or the elites. This is a completely understandable situation.
Oil. Today, while there is a high demand for it, and there is a serious dependence of both consumers and suppliers, it is often a "hostage of the situation" or becomes a "victim" of some world events. This is exactly the situation today, but it will also calm down
The growth in value or "cheapening of money" is also a natural process. First, most economies have an inflationary model of the financial system. To be honest, I find it difficult even to give an example of whether there are countries with a deflationary model. Most likely not, because it's not good for the economy. Those. the gradual cheapening of money is a manageable process.

[tabas]

Happy 80th birthday, Jet!
Whenever really the oil price hikes, everything is affected. I believe that this won't be staying at the top forever and there will be also the decrease for its price over time. We just don't know when exactly that will come but that's what I want to believe and that's the same as the markets. The factor with its continuous increase is due to the war, so, I wish that it'll end soon so that we all going to benefit once its down and decreases in price.

[BIT-BENDER]

Happy 80th Jet cash, amazing to see you at this age is a crypto-currency enthusiast, long life in happiness i wish you.
Well I can say that it isn’t only the price of fuel that has seen such changes from years back, you probably then could go to the grocery with $100 and come back with bags of items, right now with that amount you would be coming back with lesser amount of item, in terms of the value of money, it has reduce if you would compare it to decades ago, and from statistics it may even get worse.

[Oluwa-btc]

Belated Birthday Wishes Jet Cash. ( 80th )

Knowing too well that change is constant, I hope you adapt.
You'll live hundred.

[Poker Player]

Happy birthday!

They keep saying inflation is low, but that doesn't seem low to me.

I don't know who says it's low, but they are blatantly lying. Inflation started to rise before the war due to massive printing and energy policies, and, with the war on, it has been getting worse. It is a good way to impoverish the general population, while rich people will not have problems because they have assets that beat inflation.

[electronicash]

Happy Birthday!  
you rarely posts these days. companies today are laying off employees even the crypto companies. despite the profit they make, gasoline stations may also be laying off.

yes its another wealth distribution that makes the poor poorer and rich to filthy richer.
prices going to the ceiling is not yet over, it could break the roof to the moon and investing  in petro could  very well save us from this bear market.

[lovesmayfamilis]

Congratulations on your 80th birthday! You represent a great story, and you have gone through many ups and downs in the economy of your country. I imagine your disappointment with today's prices. Everyone always wants their children and grandchildren to live a better life than the one they lived. But what we are seeing now seems to be different. All older people like to say that it used to be better. And today I directly agree with you, although I recently argued with my parents. Even if only bad news is predicted today, nevertheless, we would like to hope that our authorities will be smart enough to prevent even higher inflation.

[palle11]

I congratulate you and say happy blated birthday to you. Hope you had a nice party to go with it ?

Oil is not an ideal commodity to measure inflation

I think that oil is very important factor to measure inflation and in fact it contributes to the level of inflation whether it is high or low. Naturally if the price of oil climbs up it is going to have direct effect on the price of commodities in the market because the cost of transportation will be factored into the product. This means the commodities will be higher in price and more money will chase it causing it to increase more, the more it goes higher in price it opens up the gap between the rich and poor causing inflation.

[Reid]

Happy Birthday Jet. I didn't expect you are 80. 
Price of petrol that I remember when my Uncle asked me to go buy some and put in an empty gallon was like $0.25 per liter if I remember it right. Somewhere at that range.
This ain't over, other necessities are also going to be expensive as they will put the travel cost and the gas usage to each item. It will be worst than tax because you won't see it.

[Cryptock]

Happy Birthday Jet. I didn't expect you are 80. 
Price of petrol that I remember when my Uncle asked me to go buy some and put in an empty gallon was like $0.25 per liter if I remember it right. Somewhere at that range.
This ain't over, other necessities are also going to be expensive as they will put the travel cost and the gas usage to each item. It will be worst than tax because you won't see it.

Belated happy birthday Jet, I am impressed that at the age of 80 you are using computer like a pro.
Of Course - we miss all the past time. They were always good. But this inflation is killing everyone and God knows what we have to face in the days to come.