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Today's gas prices are a far cry from New Jersey's highest recorded price of $5.05 a gallon in June 2022. ... Delta, 381 River Road, New Milford, $2.95.
The national average price of gas per gallon was $1.19 in 1980. In July 2024, the price of gas across all fuel grades is $3.60. This might seem like a massive increase, but $1.19 in 1980 would be...
The national average for regular driving fuel now sits at $3.20 per gallon, according to AAA data. The last time gas prices were this low in 2023 was on Jan. 1, at $3.21.
The current national gas price average is $3.62 per gallon. The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon .
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
The "mastermind" of the transaction was Jon Ruggles, and it served as part of the airlines' strategic effort to manage its fuel price risk. [16] The 185,000 barrel-per-day refinery restarted production in September 2012. [17] Delta spent around $100 million to transition 40% of production to jet fuel for its commercial fleet.
It wasn’t until 2005, when inflation began rising briefly again, that gas hit $2.30 a gallon — about $3.57 in today’s money. In 2010, gas prices reached $2.79, about $3.82 in 2022 dollars.
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