The chart above (click to enlarge) shows the cost of 1,000 gallons of gas as a percent of per- capita disposable income, annually back to 1929, using

for gas prices and

BEA data

for disposable income and

GFD data

for population (subscription required).

The retail price of gas was only about 20 cents a gallon from 1929 to 1946, but annual per- capita disposable income in the 1930s was only about about $400-500 (about $6,000 in today's dollars), so that a 1,000 gallons of gas cost as much as almost 49% of per- capita disposable income in 1933, and averaged more than 38% from 1929-1939~!

To reach those levels today, gas would have to sell for between $14 and $17 per gallon!

Bottom Line: When it comes to gas prices, it could be a lot worse. It was a lot worse. A lot, lot worse.