Are Gas Prices in Maine Really That High? The Answer May Surprise You

You probably know the drill: when the economy’s looking a bit rough around the edges, prices tend to take a dip along with it. The method to that madness is pretty simple – when people are tightening their wallets, the demand for all those everyday items drops.

That said, let’s time travel back to 2004. Remember the days when everything was affordable? In fact, according to World Bank, the US economy was flexing that year, growing nearly 4%, giving us our strongest growth since 1999.

Mainers have been complaining about gas prices for several years now – hey, I admit it, I’m one of them. Well, I thought it would be interesting to see how much more we are actually paying. When compared to the prices in 2004, the answer might surprise you.

The US Energy Information Administrationstates that the average price for gas for the entire year of 2004 came out to be about $1.85/gallon. The ol’ inflation calculator brings that up to $3.08/gallon in today’s money.

Now, let’s fast forward to the present day where, according to AAA, gas in Maine is currently averaging around $3.11/gallon. For those of you who may struggle with basic math, that is a 3-cent difference. So, basically, we’re right on the money compared to 20 years ago. Pretty crazy, right?

Sure, gas prices have done their little dance and have gotten pretty wild, but for many of us hardworking Mainers, this little fun fact is a silver lining. Now, if only we could lock in that $3.14 price forever...