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American drivers had it rough back in 1981. The average price of gasoline spiked to $1.353 a gallon that year — up from $1.221 in 1980 and more than double the price just three years earlier.
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
The history of gasoline started around the invention of internal combustion engines suitable for use in ... Average gasoline prices went from a record low of $0.0337 ...
The highest gas prices in U.S. history may have occurred in 2022, but the future of what you will pay at the pump remains ominous for the rest of 2023 and for the next several years.
Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
Gas prices by year. Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 ...
From 1998 to 2004, the price of gasoline fluctuated between $0.26 and $0.53 per liter ($1 and $2/U.S. gal). [93] After 2004, the price increased until the average gasoline price reached a high of $1.09 per liter ($4.11/U.S. gal) in mid-2008 but receded to approximately $0.69 per liter ($2.60/U.S. gal) by September 2009. [93]
Price of a gallon of gas: $3.27 In 2022 dollars: $4.30 This article originally appeared on GOBankingRates.com : Rising Gas Prices: How Inflation Has Impacted Gas Prices Over the Years
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related to: price of gasoline historical