Here’s some evidence that, even in the so-called era of “cheap gas,” there were consumers thinking about fuel economy.

The Chevrolet ad below, which was published in the New Era on Feb. 5, 1959, touted the fuel efficiency of the “Hi-Thrift 6″ engine, which “Goes and goes and goes on a gallon!”

I thought it was interesting, however, that the ad makes no specific claim on gas mileage, and I was unable to find any figures or estimates on just how far this car went on a gallon.

But one more thing about that era of “cheap gas.” According to the U.S. Department of Energy, the average retail price of a gallon of gasoline was 31 cents in 1959. But that isn’t as cheap as it sounds today. According to the inflation calculator on the U.S. Bureau of Labor Statistics’ Web site, 31 cents in 1959 was the equivalent of $2.29 in 2008.

This week, the average retail price of a gallon of regular unleaded gasoline is $1.96, according to the Department of Energy. That’s actually less, when adjusted for inflation, than a gallon of gas cost in 1959!