BILLINGS, Mont. (AP) — The owner of an eastern Montana restaurant has pleaded guilty to spending $75,000 from a federal COVID-19 relief loan to buy vintage automobiles, rather than as working capital for his business. Michael Eugene Bolte of Shepherd pleaded guilty Tuesday to theft of government money. The misdemeanor charge carries a sentence of up to a year in prison and a $100,000 fine. Under the plea agreement, Bolte is responsible for $74,800 in restitution and will have to forfeit the automobiles, including a Studebaker, a 1929 Frankilin, a 1939 Ford Deluxe and a 1941 Ford Super Deluxe. Bolte's Sentencing is set for April.
LOOK: See the iconic cars that debuted the year you were born
LOOK: See how much gasoline cost the year you started driving
To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics
(released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.
Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.
KEEP READING: Scroll to see what the big headlines were the year you were born