It was a little more than that Joe.
I used to get $.50 an hour to do yard work and shortly after that; my first 'gas station' job started at .85 cents plus commision/$50.00 a week.
A "lot of money" back then. :p
When I learned mechanical/electrical work, I got half the labor, which was about $3.50, as I recall.
When I opened my own Service Station in 1968, Regular gas was around .33 cents and labor was $11.00 an hour.
Mike;
The 'early' Powerglide was a very poor design and took about 70% of the engine's power, just to 'get going'. So don't feel bad @ 18 MPG.
Happy trails.