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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
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.
On April 24, gasoline was $3.85 compared to $3.86 a year earlier; it had been two years since gas prices were lower than the previous year. Crude oil prices were down; West Texas Intermediate was $103.55 a barrel, [ 72 ] down from over $107 late in March, [ 73 ] and Brent Crude $118.16 [ 72 ] after peaking above $128 in March.
Prices were at or near an all-time high in late 2010 due to people using the precious metals as a safe haven for their money as both the de facto value of cash and the stock market prices became more erratic in the late 2000s. The period from 1999 to 2001 marked the "Brown Bottom" after a 20-year secular bear market at $252.90 per troy ounce. [64]
Maybe you remember uniformed attendants or a time gas was 20 cents a gallon, but it's clear gas stations have changed a lot since the early 20th century. How Gas Stations Have Totally Transformed ...
Gas prices are projected to average $3.27 a gallon on Monday, which would make driving on the holiday the cheapest since 2021. ... The projection has the price running 50 cents below the $3.77 ...
Record-setting oil prices in the first half of 2008 and economic weakness in the second half of the year prompted a 1.2 Mbbl (190,000 m 3)/day contraction in US consumption of petroleum products, representing 5.8% of total US consumption, the largest annual decline since 1980 at the climax of the 1979 energy crisis. [22]
The average price of gas was $3.38 on January 20, up 17 cents from a month earlier. [ 21 ] [ 22 ] Another factor was planned closing of refineries in the U.S. and Europe due to lower demand. [ 23 ] By early February, the national average was $3.48, though oil prices were at $98, the lowest in six weeks, and U.S. demand was the lowest since ...