103 Years of Gas Prices in the U.S.

103 Years ofGas Prices in the United States $4 $0.00 Retail Price of a Gallon of Gas $2.26 $3 $2.52 $2.50 (Adjusted for Inflation in January 2020 dollars) $2 $2.26 $1 Yearly Inflation Rate $0.00 Retail Price of a Gallon of Gas $2.70 2020* 2020 Year $2.63 2019 KEY $2.46 $2.33 2018 $2.98 $2.88 $3.19 $1.20 $2.19 $1.20 $2.22 $2.07 2017 $1.23 $3.42 $0.93 1984 1985 $2.18 1983 2016 $3.83 $1.28 1986 $0.96 1982 $2.85 1987 $2.09 $0.96 S $2.79 $2.85 $1.35 3% $0.30 $0.29 1981 $2.78 $2.68 1988 $0.31 2% 1956 1955 4% 1957 $0.29 $0.30 1954 $3.58 11% 1958 $2.66 $2.80 $3.66 $3.53 $0.29 $0.30 1% 1953 $0.19 2% $0.19 1935 $0.19 $3.58 $3.57 1934 1936 1% 8% $3.84 $0.20 1937 $0.18 5% $3.75 8% 1933 2% -10% 4% 16% $0.25 2% $0.26 1922 1921 7% 4% 3% -9% -2% 1% 2% 15% 6% 3% 2% -2% -1% -1% 1% 0% 1918 9% $0.25 3% ..-$1 0% 0% 1% --$42 8% $3 -$4 .$45 2% 1% $0.21 $4.27 $3.17 1928 1926 3% .1927 $0.23 11% $0.21 4% 1947 $0.21 1% $0.23 $3.35 * $2.66 $3.17 $3.11 $0.20 1946 $3.17 111% 6% 3% $0.21 1943 3% 1945 2% 1944 $0.21 $2.78 $0.21 1972 $0.21 1966 3% $0.36 $3.13 $3.01 $0.32 $2.22 $3.08 3% 2006 1971 1967 $2.55 $2.53 $0.36 1970 $0.33 $3.24 1968 $2.29 1969 2005 $0.36 $2.55 2% $0.34 $0.35 1998 $1.12 N $1.73 $1.61 $2.24 $2.39 $2.52 $1.02 $2.96 $2.46 2004 1999 $1.81 2003 2000 $2.47 2002 2001 2. $1.52 $1.46 $2.13 $1.31 $1.38 $1.88 $2.19 Accurate as of August 17, 2020 $2.02 The Most Important Historical Events That Have Affected Gas Prices So Far Oil Crises and Gluts Wars and Conflicts Economic Crises Federal Gasoline Taxes Start of the Russia-Saudi Arabia • 1973 Oil Crisis 1990 Oil Price Shock Oil Price War 1979 Oil Crisis ● 2010s Oil Glut 1980s Oil Glut O 2000s Energy Crisis O Global War on Terror End of WWI WI Korean War Iran-Iraq War Iraq War Cold War War in Afghanistan Iraqi Civil War The Great Vietnam War ●• Gulf War Depression Soviet-Afghan War Recession of 1937-1938 1973-1975 The Great Recession Recession Start of the COVID-19 Recession $0.01/gal O $0.015/gal • $0.01/gal $0.03/gal $0.184/gal $0.015/gal $0.02/gal $0.09/gal $0.14/gal Parts Geek Sources: https://www.energy.gov/eere/vehlcles/fact-915-march-7-2016-average-historical-annual-gasoline-pump-price-1929-2015 https://www.ela.gov/totalenergy/data/monthly/ https://Inflationdata.com/articles/Inflatlon-adJusted-prices/Inflation-adjusted-gasollne-prlces/ https://www.klplinger.com/article/spending/t063-c000-s001-a-brlef-hlstory-of-the-federal-gasollne-tax.html https://en.wikipedla.org/wikl/List_of_modern_conflicts_In_the_Middle_East https://www.thoughtco.com/major-wars-and-conflicts-20th-century-1779967 https://www.lwm.org.uk/hlstory/timeline-of-20th-and-21st-century-wars https://www.nber.org/papers/w16790 https://ycharts.com/Indicators/us_gas_price $3.81 $3.59 66'E$ $2.54 $3.30 $3.44 $2.33 66'E$ 2015 $3.55 2014 2013 $3.82 2012 $3.13 $3.48 $1.22 $2.57 $0.88 $3.24 2011 10% $2.74 $0.65 1979 1980 $2.72 2010 1978 $0.64 $2.78 6% ( $2.72 $2.63 1977 $2.32 $2.68 $0.60 $0.27 2009 1976 $0.27 1952 $3.85 $3.21 $2.89 $2.73 1951 $0.57 $0.27 2008 $3.39 1975 1950 $2.93 $0.27 1949 $0.18 $3.44 $2.77 $2.77 $2.89 1932 $0.53 1974 $0.17 1931 2007 $2.78 $3.87 $3.09 $2.27 $0.39 1973 $0.26 1948 $0.20 1930 $0.30 $3.73 1920 $0.25 1919 1929 $0.25 $0.25 $0.30 18% $0.26 $0.25 $0.22 $0.21 $0.22 -2% 1918| 4% $0.23 $0.21 $0.21 1923 $0.22 $3.32 1929 $0.21 $0.18 $0.20 $0.17 1959 1933 $0.18 $0.19 1924 $0.21 1938' 1932 $0.19 $0.20 1937 $0.20 1938 $0.20 - $0.19 · 1989 $3.66 1960 $1.06 5 $2.21 1934 $0.19 1% 1925 1939| 1940 $0.18 - $0.30 $2.70 $3.17 $0.22 $0.19 1939 $0.19 $3.24 1990 $1.22 $2.41 J6% 1961 $0.31 1940 $3.53 1942 194 $2.67 $0.18 $0.19 1962 1991 $1.20 $2.27 $3.32 $0.31 $3.3 $2.65 1963 $0.31 $0.31 $0.31 $0.30 1992 1964 $0.30 1965 $1.09 $2.00 $0.30 $0.31 $2.53 $0.30 $0.31 $0.32 $0.33 $0.34 | 1993 $2.54 $2.50 $0.35 $0.36 $0.36 $0.36 $1.07 $1.90 1994 $1.07 $1.87 1995 9661 $1.19 $1.19 $1.10 $0.53 $1.91 $1.96 $1.87 $0.60 $0.65 $1.28 $1.23 $1.20 $1.20 |$0.93 $1.35 96'0$ 96'0$ 90'T$ 1990 $1.22 $1.20 $1.09 1986| 1988| 686 $1.07 $1.07 $1.10 $1.19 $1.19 $1.02 $1.1 $1.46 |866 $1.38 $1.31 $1.52 $1.81 $2.24 $2.53 $2.77 2001| 2003 $3.21 2007 2008| $2.74 $3.48 $3.55 $3.44 2009 $2.32 $3.30 $2.33 $2.07 2011| 2013 2014| $2.33 $2.63 $2.50 $2.26 2017| 2020|