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Price of a gallon of gas: $3.27 In 2022 dollars: $4.30 This article originally appeared on GOBankingRates.com : Gas Prices: The Cost of Gas the Year You Were Born
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [14] Since October 10, 2022, the price of gasoline has gone down again.
Nine months later it peaked at a sky-high 20.1% — much more severe than even the turmoil of the 1970s and ’80s when the inflation rate peaked around 14%. ... a gallon of gas cost 36 cents. By ...
By the 1970s, there were shortages of price-regulated interstate gas, while unregulated gas within the gas-producing states (intrastate gas) was plentiful, but more expensive. By 1975, nearly half the marketed gas in the US was sold to the intrastate market, resulting in shortages during 1976 and 1977 in the Midwest that caused factories and ...
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.
Guzzling Gas. Using data from the Department of Energy, Cheapism determined the average cost of a gallon of gas every year from 1940 through today. Despite constant ups and downs and the 2022 pain ...
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U.S. gas prices have crept up some 17 cents in the past month, ... In 2020, a gallon of gas was an average of $7. ... a single gallon of gas costs $6.29 more than the worldwide average and $7.57 ...