Supporting Information
| Year | Retail Gasoline Price (Current dollars/gallon) | Retail Gasoline Price (Constant 2015 dollars/gallon) |
|---|---|---|
| 1993 | 1.11 | 1.68 |
| 1994 | 1.11 | 1.65 |
| 1995 | 1.15 | 1.67 |
| 1996 | 1.23 | 1.76 |
What is the lowest gas has ever been?
This resulted in drastically cheaper gas on an inflation-adjusted basis with the lowest recorded inflation-adjusted price for gas occurring in 1998 at $1.61 per gallon.
What is the highest gas has ever been?
The highest ever gas price average $4.11 on July 17, 2008, according to AAA. This year, the rise in gas prices doesn’t just come from demand, the issue lies with a shortage of truck drivers. The lack of oil tank truck drivers has made it difficult for gas stations to get fuel deliveries.
What was the price of gas in 1995?
In the year 1995, the average retail price of gas was $1.15. This is equivalent to $2.00 in 2021 dollars. Note: We determine the value of a dollar using the Consumer Price Index from December of the previous year. How much has gas gone up with inflation?
What was the average price of gas in 2015?
During the summer of 2015, the annual average retail price of regular-grade gasoline fell to 2.43 U.S. dollars per gallon. Prices continued to decline throughout 2016 but began to rebound in 2017.
What was the price of gas in the 1980’s?
Between 1930 and 2015, the average price of regular gasoline has ranged from a low of $1.43 per gallon in 1998 to a high of $3.69 per gallon in 2012 when measured in constant 2015 dollars. The effect of the U.S. embargo of Iranian oil can be seen in the early 1980’s with the price of gasoline peaking in 1982.
What’s the price of a gallon of gas in the US?
In 2018, one gallon of regular gasoline cost 2.72 U.S. dollars in the United States. The price of gasoline in the U.S. is significantly lower than in many other countries.
