Right now, in Sweden, a small-feeling 340 g (which is apparently 11.9 oz) jar of "Skippy creamy peanut butter" is, translated to current USD value, $3.7 USD. I think it has been around this price for a long time, and it's an expected standard price for something like that, given how much everything costs these days.
However, I have heard economic tips such as "use peanut butter and apple sauce on toast bread", which all seem to imply that this is a cheap and yet filling meal. However, considering how relatively little peanut butter is in such a jar, this sounds like it would quickly get expensive if eaten constantly, with Swedish prices. (And that apple sauce isn't free either...)
Apparently, it's "extra smooth", but I don't know if that is just part of the advertising slogan or actually a separate product, and if so, if this is some kind of unusually pricey version. It's the only peanut butter product sold here (except for the "crunchy" version of the same brand).
In the USA, is perhaps a larger can of peanut butter of this quality (whether that is low, medium or high, I cannot tell) far less expensive than my price for the small jar? I suspect this is the case.