It seems that talking about the gas prices has replaced the weather with the #1 conversation starter these days, and is it really a surprise?

According to AAA, gas prices in Buffalo have seen a 57 cent jump in only a week! Yes, we can agree that it is expensive.

Buffalo hit an all-time high for average gas price per gallon yesterday with $4.30 per gallon in Western New York. 

 

As of March 9, the Buffalo average has jumped up to $4.37 per gallon, according to AAA..

A week ago, it was only $3.80 per gallon in Western New York.

And one year ago, the price of gas per gallon was $2.78, which seems more reasonable and what we have been used to before this week, yeah?

The fact that gas prices exceeded $4 per gallon (and the price is still going up) really freaked me out because I’ve never seen gas prices climb so quickly and suddenly – and to such a high number.

But turns out, there was a time not too long ago when gas prices climbed in a similar way. 

During the Great Recession of 2008, I was only 9 years old, so have some grace here; however, I never knew a time (or remembered a time at least) where gas per gallon was ever priced so high, but it turns out most people have experienced this kind of situation before.

But is gas really more expensive now? Or was it more expensive in 2008?

The previous all-time high for the price of gas per gallon in the Buffalo-Niagara Falls region was $4.27 back in 2008, which is recorded as cheaper than our current record from March 9. However, family and friends who are more experienced drivers than I am, they informed me that you have to take into account inflation in order to accurately compare if the gas prices today are more than the gas prices during the Great Recession of 2008.

Using the U.S. Inflation Calculator, the gas in 2008 (that was priced at a high of $4.27/gallon) would actually cost $5.58/gallon today. 

So yes, the gas prices are expensive, and for a lot of young drivers (like me), these are the most expensive gas prices we have seen. These gas prices may have surpassed the old expense record from 2008, but looking at inflation, the gas prices as of March 9, 2022 are not yet equal to the ones in 2008 – and hopefully we will never get there. 

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