thebigp

When adjusted for inflation, the average annual price of gasoline has fluctuated greatly, and has recently experienced sharp increases and decreases. The effect of the U.S. embargo of oil from Iran can be seen in the early 1980's with the price of gasoline peaking in 1982. From 2002 to 2008 the price of gasoline rose substantially, but then fell sharply in 2009 during the economic recession. In 2012, prices reached the highest level in the eighty-year series in both current and constant dollars, but began a steep decline thereafter. In constant dollar terms, the price of gasoline in 2015 was only seven cents higher than in 1929.
AVERAGE HISTORICAL ANNUAL GASOLINE PUMP PRICE, 1929-2015---I18,B28,S4

Notes:
• Retail price includes Federal and State taxes.
• Price is for regular leaded gasoline until 1990 and for regular unleaded gasoline thereafter.
• Current dollars are not adjusted for inflation; constant 2015 dollars are adjusted for inflation so that a comparison can be made in purchasing power among years. Constant dollars calculated using the Gross Domestic Product (GDP) Inflation Index.
Fact #915 Dataset
SUPPORTING INFORMATION
Average Historical Annual Gasoline Pump Price, 1929-2015
YEAR RETAIL GASOLINE PRICE
(CURRENT DOLLARS/GALLON) RETAIL GASOLINE PRICE
(CONSTANT 2015 DOLLARS/GALLON)
1929 0.21 2.38
1930 0.20 2.30
1931 0.17 2.18
1932 0.18 2.61
1933 0.18 2.66
1934 0.19 2.67
1935 0.19 2.62
1936 0.19 2.67
1937 0.20 2.63
1938 0.20 2.64
1939 0.19 2.56
1940 0.18 2.49
1941 0.19 2.43
1942 0.20 2.39
1943 0.21 2.30
1944 0.21 2.25
1945 0.21 2.19
1946 0.21 1.96
1947 0.23 1.97
1948 0.26 2.09
1949 0.27 2.17
1950 0.27 2.14
1951 0.27 2.03
1952 0.27 2.01
1953 0.29 2.08
1954 0.29 2.08
1955 0.29 2.05
1956 0.30 2.04
1957 0.31 2.05
1958 0.30 1.96
1959 0.31 1.94
1960 0.31 1.95
1961 0.31 1.91
1962 0.31 1.88
1963 0.30 1.84
1964 0.30 1.82
1965 0.31 1.83
1966 0.32 1.83
1967 0.33 1.84
1968 0.34 1.79
1969 0.35 1.77
1970 0.36 1.72
1971 0.36 1.67
1972 0.36 1.59
1973 0.39 1.62
1974 0.53 2.03
1975 0.57 1.98
1976 0.59 1.96
1977 0.62 1.94
1978 0.63 1.83
1979 0.86 2.31
1980 1.19 2.95
1981 1.31 2.97
1982 1.22 2.60
1983 1.16 2.37
1984 1.13 2.23
1985 1.12 2.14
1986 0.86 1.61
1987 0.90 1.64
1988 0.90 1.59
1989 1.00 1.70
1990 1.15 1.89
1991 1.14 1.81
1992 1.13 1.75
1993 1.11 1.68
1994 1.11 1.65
1995 1.15 1.67
1996 1.23 1.76
1997 1.23 1.74
1998 1.06 1.47
1999 1.17 1.60
2000 1.51 2.02
2001 1.46 1.91
2002 1.36 1.75
2003 1.59 2.01
2004 1.88 2.32
2005 2.30 2.74
2006 2.59 3.00
2007 2.80 3.16
2008 3.27 3.61
2009 2.35 2.58
2010 2.79 3.02
2011 3.53 3.75
2012 3.64 3.80
2013 3.53 3.62
2014 3.37 3.40
2015 2.45 2.45
Sources:
Energy Information Administration, Monthly Energy Review, Table 9.4.
U.S. Department of Commerce, Bureau of Economic Analysis, National Income and Product Accounts, Table 1.1.9. Implicit Price Deflators for Gross Domestic Product, February 2016.

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)



Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1993 1.078 1.100 1.097 1.078 1.062 1.050 1.092 1.066 1.014
1994 0.998 1.009 1.008 1.027 1.047 1.078 1.106 1.155 1.144 1.114 1.119 1.129

1995 1.130 1.120 1.119 1.157 1.225 1.239 1.201 1.170 1.158 1.134 1.109 1.118
1996 1.137 1.136 1.183 1.275 1.324 1.300 1.272 1.251 1.247 1.249 1.278 1.282
1997 1.283 1.276 1.251 1.244 1.245 1.242 1.220 1.268 1.276 1.242 1.216 1.177
1998 1.132 1.096 1.064 1.077 1.105 1.103 1.094 1.065 1.049 1.059 1.036 0.987
1999 0.980 0.962 1.022 1.171 1.171 1.154 1.197 1.260 1.295 1.285 1.292 1.313

2000 1.329 1.415 1.556 1.506 1.526 1.666 1.591 1.506 1.588 1.571 1.557 1.483
2001 1.487 1.490 1.450 1.591 1.738 1.658 1.466 1.461 1.557 1.357 1.212 1.127
2002 1.148 1.155 1.289 1.439 1.434 1.424 1.438 1.438 1.441 1.486 1.461 1.429
2003 1.500 1.655 1.734 1.633 1.539 1.533 1.554 1.661 1.721 1.606 1.555 1.522
2004 1.614 1.690 1.778 1.839 2.023 2.013 1.954 1.920 1.912 2.042 2.023 1.887

2005 1.875 1.953 2.120 2.285 2.205 2.198 2.333 2.529 2.951 2.765 2.303 2.229
2006 2.360 2.326 2.468 2.787 2.953 2.930 3.025 2.999 2.606 2.293 2.275 2.359
2007 2.289 2.323 2.609 2.891 3.187 3.102 3.011 2.834 2.849 2.853 3.128 3.070
2008 3.095 3.078 3.293 3.507 3.815 4.105 4.114 3.833 3.756 3.112 2.208 1.745
2009 1.840 1.975 2.011 2.102 2.316 2.681 2.582 2.670 2.609 2.605 2.706 2.663

2010 2.769 2.699 2.824 2.900 2.890 2.785 2.782 2.783 2.757 2.853 2.913 3.048
2011 3.148 3.264 3.615 3.852 3.960 3.735 3.705 3.696 3.667 3.506 3.443 3.326
2012 3.440 3.640 3.907 3.958 3.791 3.596 3.498 3.780 3.910 3.812 3.521 3.381
2013 3.391 3.736 3.779 3.638 3.675 3.689 3.661 3.645 3.604 3.420 3.322 3.357
2014 3.392 3.434 3.606 3.735 3.750 3.766 3.688 3.565 3.484 3.255 2.997 2.632

2015 2.208 2.301 2.546 2.555 2.802 2.885 2.880 2.726 2.462 2.387 2.260 2.144
2016 2.057 1.872 2.071 2.216 2.371 2.467 2.345 2.284 2.327 2.359 2.295 2.366
2017 2.458 2.416 2.437 2.528 2.503 2.460 2.414 2.494 2.761 2.621 2.678 2.594
2018 2.671 2.705 2.709 2.873 2.987 2.970 2.928 2.914 2.915 2.943 2.736 2.457
2019 2.338 2.393 2.594 2.881 2.946 2.804 2.823 2.707 2.681 2.724 2.693 2.645

2020 2.636 2.533 2.329 1.938 1.961 2.170 2.272 2.272 2.274 2.248 2.200 2.284
2021 2.420 2.587 2.898 2.948 3.076 3.157 3.231

U.S. gas prices highest in 7 years, up 40% since January

BY KATE GIBSON
JULY 6, 2021 / 4:21 PM / MONEYWATCH---CBS NEWS
American motorists can expect to pay more to fill up their tanks at least through the end of August, according to AAA. The average price of gas nationwide has climbed to $3.13, a high for the year and up 40% since January 1.
And fuel costs aren't expected to drop anytime soon. "We believe it'll rise another 10 to 20 cents at the pump between now and the end of August," Jeanette McGee, a spokesperson for AAA, told CBS MoneyWatch.
digging deeper to pay for gasoline, as prices are likely headed nowhere but up until global supply starts to catch up with the surge in demand," De Haan said in a statement.
Underlying that climb is crude's move to a six-year high as a dispute between Saudi Arabia and the United Emirates derailed talks to boost oil production by the Organization of Petroleum Exporting Countries and its allies.
"The failure of oil producer club OPEC and its non-affiliated partner Russia to reach an agreement to increase supply has pushed spot prices for Brent crude oil into the high $70s per barrel, levels not seen since 2018," energy analysts at Eurasia Group wrote Tuesday in a client note.
Access to affordable and reliable energy including fuel is viewed as central to the economic recovery, prompting the Biden Administration to urge compromise. The White House's stance "highlights the middle road that the administration needs to walk, balancing affordability and traditional industry economic drivers with t***sition to sustainable/renewable sources," Height Securities analyst Benjamin Salisbury wrote in a report.
Separately, AAA's McGee urges motorists to remain calm should they encounter a filling station covered with a bag indicating low or no fuel, explaining a shortage of fuel tank drivers is delaying some deliveries. But the impact is limited and "not really impacting gas prices, so don't panic as there is plenty of supply in the United States," she said.
In May, some motorists resorted to hoarding gasoline after a ransomware attack took a major pipeline out of commission.

peg w

High gas prices usually mean a booming ecomony. So, what is your problem?

BIRDMAN

Don’t worry slow Joe Begged the a Rabbs for more oil

America 1 Loc: South Miami

Obama-Biden gas prices, regular $5.49, plus $5.59, and supreme $5.79.
I remember paying well over $100.00 to fill up during that "booming economy."
26 gallons at $5.79, $150.54.