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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
In June 2021, the national average price for a gallon of gas was $3.09, according to data from AAA, but as of June 2022, it had topped $5. That marks a gain of over 60% in a single year.
It’s a politicized country, so every problem must have a political origin. And if you’re the U.S. president when gasoline prices soar above $4 per gallon, you’ve got some explaining to do.
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 ...
Natural gas prices in Europe reached their highest point in September 2022 at a multiple of roughly 25 compared to two years prior. While gas prices are currently falling quickly on the spot market, the cost to distribute gas in the coming year will still be close to €150 per MWh, or a multiple of about seven. [93] [95] [96]
New England spot natural gas prices hit record levels from January 1 to February 18, with the day-ahead wholesale (spot) natural gas price at the Algonquin Citygate hub serving Boston averaging US$22.53 per million British thermal units ($76.9/MWh), a record high for these dates since the Intercontinental Exchange data series began in 2001.
Even a 1-cent rise in the cost of a gallon of gas can make a big difference, Bloomberg reported Wednesday, taking away roughly $1.15 billion in annualized spending power. In other words, higher ...
The price per gallon of gas is seen at a gas station on Dec. 12, 2023 in Miami as the national average for unleaded gas was $3.14 a gallon on Dec. 12, according to AAA.