If you were take the average salary in 1970 to be say £1000 ,and fuel cost £1 a gallon , that would be .01% of an annual salary . How would that compare to today's average salary of £36000 ,with fuel at £6.00 a gallon ,that would be .0165 % I'm guesstimating the figures ,but on the face of it ,it appears that we pay much more for fuel now than we did 40 years ago .or do we. Tony g
Surely £1/gallon didn't come until the eighties? Five bob sticks in my mind, rising to 60/70 by the end of the decade.
When I got my first car in 1974 petrol was approx 40p a gallon, within a week it went up to 50p a gallon, almost put an end to my motoring dream.
At the time as a 17 year old apprentice I was earning about £20 (before stopages) from memory and my insurance TPFT was about £50. That means I could get 40 gallons for a weeks wage, at todays £6 a gallon that means I would have to be earning £241 a week, do apprentices get that much? On insurance can a 17 year old apprentice pay his insurance with 2.5 weeks wages.
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These are the figures:-
www.theaa.com/public_affairs/reports/Petrol_Prices...f
In 1971, a gallon of four star leaded petrol was 34.25 pence - that's just 7.5 pence/litre.
Average annual incomes, from the FT on subscription:-
1930 195.80
1931 192.10
1932 188.80
1933 187.60
1934 189.60
1935 192.40
1936 196.80
1937 201.60
1938 208.60
1939 214.11
1940 270.79
1941 296.76
1942 319.20
1943 355.41
1944 376.66
1945 371.54
1946 380.99
1947 416.41
1948 455.77
1949 474.66
1950 496.70
1951 546.69
1952 589.59
1953 625.80
1954 667.13
1955 729.31
1956 786.78
1957 823.77
1958 852.11
1959 890.68
1960 948.93
1961 1,006.00
1962 1,042.21
1963 1,085.51
1964 1,168.23
1965 1,250.95
1966 1,333.67
1967 1,380.94
1968 1,488.98
1969 1,607.16
1970 1,801.30
1971 2,003.88
1972 2,262.18
1973 2,567.74
1974 3,023.55
1975 3,825.44
1976 4,419.69
1977 4,815.42
1978 5,440.25
1979 6,281.70
1980 7,585.53
1981 8,566.07
1982 9,369.56
1983 10,159.44
1984 10,779.08
1985 11,691.52
1986 12,615.15
1987 13,597.24
1988 14,778.08
1989 16,122.89
1990 17,689.37
1991 19,045.83
1992 20,208.51
1993 20,817.53
1994 21,592.65
1995 22,257.04
1996 23,059.85
1997 24,028.75
1998 25,274.48
1999 26,492.52
2000 27,682.89
2001 28,900.94
2002 29,952.88
2003 30,977.15
2004 32,333.61
2005 33,634.71
2006 35,018.85
2007 36,347.63
2008 37,704.10
2009 37,580.11
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Average salary details from the office of national statistics.which one Is right.
The median salary for a full-time worker in the UK rose 1.4% in 2011 to £26,244, against a headline CPI inflation rate of 5% or higher, according to the Annual Survey of Hours and Earnings from the Office for National Statistics.
Tony g
Edited by tony g on 04/02/2012 at 11:57
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They might both be right. The median is the numerical value separating the higher half of a sample. The average is the total divided by the number of samples.
So for example. 9 salaries at 5k, 5k, 5k, 5k, 5k, 5k, 10k,10k , 40k
The total is 90k - average is 90/10 so 10K
The median is the salary halfway along the line from lowest to highest so it's 5k.
So in the UK just like my smaller population the median is lower than the average.
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in the early 60s 4 gallons were £1 =25 old p = 12.5 new p per gallon which is under 3p a litre.IF i have done the maths right!
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in the early 60s 4 gallons were £1 =25 old p = 12.5 new p per gallon which is under 3p a litre.IF i have done the maths right!
At 4 gallons to the £1 every gallon is five shillings (25 new pence). Twelve old pennies in a shilling so 5/- equals 60d, 60/4.456 = 13.2d a litre, almost exactly 5.5pence/litre
Maths probably right; error was in converting old money to decimal or v v.
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thanks for the tactful correction! Fat fingers on a slim calculator!
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So all, were 17 posts in ,is petrol more expensive now ,in real terms ,than it was in 1970 ?
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In real terms it is more expensive now.
Taking the figures posted by RT above for 1971 Average income roughly 2000. Petrol 34.25pl. So roughly 3 gallons per £. Annual income of £2000 buys roughly 6000 gallons.
Current median income for full time employess according to the Office for National Statistics is £26'200K. Petrol £6 per gallon. 26200 divided by £6 per gallon means the average person today could buy 4366 gallons. So petrol is far more expensive as a percentage of income.
On thr other hand howv much more economical is the average car today? .........
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On thr other hand howv much more economical is the average car today? .........
People drive a lot more miles now than they used to. The normal person has been priced out of the cities so therefore commute further, now the Government tries to price the normal person out of their car aswell. Very progressive.
The fuel cost on its own tells us very little, especially if we're comparing it to the 70s. Food, water, electricity, housing costs etc have all skyrocketed out of control, its not just motoring that people struggle to afford. However the cost of petrol gets much of the brunt of peoples anger because thats the cost most easily changed, its all Government tax which is changable with one click on a computer.
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People drive a lot more miles now than they used to. The normal person has been priced out of the cities so therefore commute further, now the Government tries to price the normal person out of their car aswell. Very progressive.
Do they? The average has remained at 12,000 miles/year during my long time driving.
Personally, I've driven less and less over the years - down from 50,000/year in the '70s to about 13,000 now.
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Do they? The average has remained at 12,000 miles/year during my long time driving.
Personally, I've driven less and less over the years - down from 50,000/year in the '70s to about 13,000 now.
Yes because of course your individual experiences are indicative of millions of other people arent they?
Just because you drive less means everybody else does?
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Do they? The average has remained at 12,000 miles/year during my long time driving.
Personally, I've driven less and less over the years - down from 50,000/year in the '70s to about 13,000 now.
Yes because of course your individual experiences are indicative of millions of other people arent they?
Just because you drive less means everybody else does?
Try reading what I posted Jamie, ie "The average has remained........Personally......"
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Averages mean very little in this case. In the 70s, there were only about 4 cars in all of Britain.
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>>Taking the figures posted by RT above for 1971 Average income roughly 2000. Petrol 34.25pl. So roughly 3 gallons per £. Annual income of £2000 buys roughly 6000 gallons.
£2,000 average pay? In 1971 my wife was head of dept in a secondary school and on £1500/£1600 IIRC - today she would be on £40K for that job ie way above the current UK average............1971 Average pay would be £1000 - £1200 IMHO
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