What's happened to gasoline prices?
If you’ve wondered...here are some things you should know
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GASOUNE
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Gasoline prices have not risen bh much as
other products. The only fair way to compare is with
other things you buy. The U. S. Cost of Living Index
shows theover-aU cost of living is up 102.3% since 1939.
During that time the price of gasoline rose only 62.8%
not including taxes.
Gasoline quality is much better.There’sa perform
ance bonus for motorists in the big improvements that
have been made in gasoline over the years. Quality has
risen so fast that the regular gasoline you buy today is
comparable to the_premium gasoline of just ten years ago.
Taxes add about 9i to the coat of every gallon.
Thus, nearly 30% of your gasoline dollar does not buy
gasoline ... it’s for state and federal tax. These taxes go
to help build and improve the roads we all enjoy. How
ever, we must include them as part of the price you pay
for a gallon o{ gasoline.
Oil is getting harder to find and more expen
sive to develop. In 1956 our average cost for a well
was $149,000 ... up 40% over the past five years. In
1956 we completed 101 wells in the Gulf of Mexico
where drilling costs can be six times as much as on land.
Research also helps keep gasoline prices
down. Standard and the oil industry employ more
than 15,000 full-time researchers . . . invest more than
$160 million each year to develop ways to find and pro
duce oil more efficiently, and to make more and better
products at a lower cost.
Competition helps keep gasoline prices low.
There are 300 oil refining companies in the U. S. Each
tries to make better products and give better service
than the others. At the same time the refiner must keep
his prices competitive or face the loss of customers.
Here's why gasoline is still one of your biggest bargains: Today the average
worker can buy 85% more gasoline with an hour's pay than he could in 1939.
STANDARD OIL COMPANY OF CALIFORNIA
plans ahead to serve you better