Throwback Snap To 2016 Shows The TRUE Inflation In Portland
Politicians accross the board will always claim that the level of inflation is high, but manageable. Statistics are released, but people have short memories and its difficult to keep track of just how much prices have gone up in recent years.
However, this photograph taken at Space Age Fuel & Quik Mart truly shows how much prices have gone up in a relatively short space of time. 2016 was only 7 years ago – and of course, a lot has changed then. But even still, you may be shocked at what you were paying not too long ago.
As of today, Space Age Gas now costs $3.92 up from $2.34, obviously quite a significant increase. There is no doubt that labor costs in the USA have risen since 2016, but remember much of the infrastructure surrounding the fuel industry was already in place since then. Prices do vary slightly within the city of Portland, but stores are almost always within a few cents of one another.
In fairness, crude oil was around $45 per barrel in May 2016, with the price now being closer to $68.
Perhaps more alarming is the price of Camel cigarettes costing $5 from this local gas station. Anyone who smokes will know that the price is closer to $10, which is quite an alarming price increase within just 7 years.
There is an argument to be made that smoking is a lifestyle choice and not a necessity, which may be true. But this does make you wonder just how the prices have gone up close to 100% – did the chemicals and materials really increase by this much?
The concern for residents is that prices of essentials and other goods may have risen this much, but also will they continue to increase at this pace?