TSX:TVE - Post Discussion
Post by
Re1ndeer2 on Aug 02, 2024 12:07pm
Historical Oil Prices , 2008 vs 2024
$1 in 2008 is equivalent in purchasing power to about $1.46 today, an increase of $0.46 over 16 years. The dollar had an average inflation rate of 2.39% per year between 2008 and today, producing a cumulative price increase of 45.92%.
This means that today's prices are 1.46 times as high as average prices since 2008, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 68.493% of what it could buy back then.
The inflation rate in 2008 was 3.84%. The current inflation rate compared to the end of last year is now 2.97%. If this number holds, $1 today will be equivalent in buying power to $1.03 next year. The current inflation rate page gives more detail on the latest inflation rates.....Todays $74 WTI is a Historical Bargain by at least 50%.......Bought today
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