NEW YORK (CNNMoney.com) -- Most Americans think they're paying a lot for gasoline. But by some calculations they have it easy.

Not only is the recent price per gallon lower in real terms than the high hit in 1980, the recent price also represents a lower percentage of the average worker's income.

Nationwide, gas recently averaged around $2.60 a gallon - the inflation-adjusted high in 1980 was around $3.15.

Moreover, in 1980, the average American had to work 105 minutes to buy enough gas to drive the average car 100 miles, according to David Wyss, chief economist at Standard & Poor's. By 2006, the average American needed to work only 52 minutes, thanks in part to better fuel efficiency but mostly due to higher wages.