Well, when I first got my drivers license, gas was 22 cents over at the Jenny Station!
All kidding aside, things have gone up. And besides general inflation, gas water heaters took a substantial jump as of July 1, 2003 when the government mandated FVIR ( flammable vapor ignition resistance ) spec took effect.
By the way, in case no one noticed, that spec expands on Jan 1, 2008 to cover commercial gas up to 99,000 BTU. The common 75 gal/75K btu are going up over over 25% from what I have heard. In another year or two, it will apply to all commercial.
Oh, and if that't not enough, the same commercial as I mentioned will now be subject to California's "low Nox" laws, so that is another price jump!