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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).
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]
A History of High Gas Prices: Quick Take. ... As of Nov. 3, 2023, the current average gas price is $3.44 per gallon in the United States. Highest Gas Prices in the US.
The Atlantic recently referred to gasoline as "the only product whose prices are advertised on big signs by the side of the highway." Here It Is: Our 2022 Small Business Spotlight Learn: 7...
Even with oil market fluctuations, prices for gasoline in the United States are among the lowest in the industrialized world; this is principally due to lower taxes. While the sales price of gasoline in Europe is more than twice that in the United States, the price excluding taxes is nearly identical in the two areas.
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Gas prices peaked in June 2022 at $5.058 nationally, so relatively speaking, that $3.601 looks pretty good. But still, it's higher than it was earlier this year, when gas was as low as $3.221 in ...