Yeah, I meant late 80's. Sorry
EDIT: But, I do remember some stores charging over $20 for a CD well into the 90s, though admittedly it was the exception rather than the rule. I bought Pocket Full of Kryptonite by The Spin Doctors at a store at the mall (I wish I could remember the name of the store, but they went out of business soon after. I want to say National Record Mart) for $24.99, and the K Mart in my town sold the Saturday Night Fever Soundtrack (1 disc) for $25.
Growing up in West Virginia, we didn't have a lot of competing stores to keep prices down, so maybe things were different in places where there were more music stores. Bigdaddychester, if you read this, do you know what store I'm talking about in the Barboursville Mall? It's where the Chinese Restaurant in the food court is now, where the Taco Bell was before that (I think).