Have gas prices risen? Depends on how you pay.

Just in time for July 4th stories about rising U.S. gas prices, I created a graphic showing that gas prices may have risen when measured in dollars and even Venezuelan bolivars, but gas prices have fallen when measured in wheat and coffee, since 2004. If you were lucky enough to have inherited wheat futures instead of dollars back in 2004, you would be better off when buying gas today. The 500% price rise when measured in bolivars shows that rising prices may in fact mean the value of the currency is falling. The dollar price rise was about 100% and not so coincidentally the quantity of U.S. dollars has risen 115% during the same time frame. Try our gas price calculator to change the years.

Table showing gas prices measured in dollars, wheat, etc.

When a price changes, either the thing you are buying changed in value or your money, the thing you are paying with, changed in value. Often both things are happening. The falling values of the Venezuela and United States currencies are definitely impacting the price.

The solution is to allow people to choose their money since money/products can lose, retain, or gain value.

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