Alternative Fuels Data Center: Average Annual Retail Fuel Price of Gasoline

Source: Energy Information Administration Monthly Energy Review June 2021, Table 9.4; Bureau of Labor Statistics nationwide Consumer Price Index Inflation Calculator

Notes: Retail price includes federal and state taxes. Price is for regular leaded gasoline until 1975 and for regular unleaded gasoline thereafter.

This graph shows the trend of actual and inflation-adjusted gasoline prices from 1950 to 2023. There were gasoline price spikes in 1974 and 1980 caused by the Organization of the Petroleum Exporting Countries (OPEC) Oil Embargo and Iran-Iraq War, respectively. The economic recession caused a price crash in 2009 after a peak in 2008. Oil prices peaked in 2012 as a result of high global demand and increasingly costly extraction methods. They dropped in 2020 because of decreased demand related to the COVID-19 pandemic but rebounded in 2021. In 2022, prices reached the highest point since 2014 and then dropped $0.72 in 2023.

To view more details, notes, and acronyms, please download the Excel spreadsheet.

	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Gasoline Price ($/gallon)	0.268	0.272	0.274	0.287	0.29	0.291	0.299	0.31	0.304	0.305	0.311	0.308	0.306	0.304	0.304	0.312	0.321	0.332	0.337	0.348	0.357	0.364	0.361	0.388	0.532	0.567	0.614	0.656	0.67	0.903	1.245	1.378	1.296	1.241	1.212	1.202	0.927	0.948	0.946	1.022	1.164	1.14	1.127	1.108	1.112	1.147	1.231	1.234	1.059	1.165	1.51	1.461	1.358	1.591	1.88	2.295	2.589	2.801	3.266	2.35	2.788	3.527	3.644	3.526	3.367	2.448	2.142	2.408	2.735	2.64	2.17	3.05	4.094	3.5
Gasoline Price (2023 $/gallon)	3.29104	3.15248	3.151	3.27467	3.335	3.33486	3.32787	3.3511	3.22848	3.1842	3.2033	3.15392	3.0906	3.02176	2.99136	3.01392	2.99493	3.00792	2.91505	2.83272	2.75247	2.71908	2.60642	2.5802	3.14944	3.13551	3.24192	3.24064	3.0418	3.612	4.432200000000001	4.50606	4.0824	3.76023	3.53904	3.37762	2.57706	2.52168	2.4123	2.48346	2.66556	2.5422	2.43432	2.33788	2.2796	2.294	2.38814	2.3446	1.98033	2.1203	2.6576	2.54214	2.3086	2.65697	3.0268	3.5802	3.93528	4.08946	4.7683599999999995	3.337	3.9032	4.7967200000000005	4.882960000000001	4.65432	4.44444	3.1824	2.72034	3.01	2.735	3.1416	2.5606	3.355	4.21682	3.5