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Fact #835: August 25, Average Annual Gasoline Pump Price, 1929-2013

When adjusted for inflation, the average annual price of gasoline has fluctuated greatly, and, by 2013, had risen by more than 50% since the data series began in 1929. The effect of the U.S. embargo of oil from Iran can be seen in the early 1980's with the price of gasoline peaking in 1982. From 2002 to 2008 the price of gasoline rose substantially, but then fell in 2009 during the economic recession. In 2012, prices reached the highest level in the eighty-year series in both current and constant dollars, but declined slightly in 2013.

Average Retail Price of Gasoline, 1929-2013
Graphic showing current retail gas price and retail gas price in constant 2013 dollars. See table for details.

Fact #835 Dataset

Supporting Information

Average Retail Price of Gasoline, 1929-2013
Year Retail Gasoline Price (Current dollars/gallon) Retail Gasoline Price (Constant 2013 dollars/gallon) Year Retail Gasoline Price (Current dollars/gallon) Retail Gasoline Price (Constant 2013 dollars/gallon)
1929 0.21 2.31 1972 0.36 1.55
1930 0.20 2.23 1973 0.36 1.46
1931 0.17 2.11 1974 0.39 1.44
1932 0.18 2.53 1975 0.53 1.81
1933 0.18 2.58 1976 0.57 1.82
1934 0.19 2.59 1977 0.59 1.79
1935 0.19 2.54 1978 0.62 1.76
1936 0.19 2.59 1979 0.63 1.64
1937 0.20 2.55 1980 0.86 2.06
1938 0.20 2.56 1981 1.19 2.61
1939 0.19 2.49 1982 1.31 2.71
1940 0.18 2.41 1983 1.22 2.43
1941 0.19 2.36 1984 1.16 2.22
1942 0.20 2.32 1985 1.13 2.10
1943 0.21 2.23 1986 1.12 2.03
1944 0.21 2.19 1987 0.86 1.52
1945 0.21 2.12 1988 0.90 1.54
1946 0.21 1.90 1989 0.90 1.49
1947 0.23 1.91 1990 1.00 1.59
1948 0.26 2.03 1991 1.14 1.76
1949 0.27 2.10 1992 1.13 1.70
1950 0.27 2.08 1993 1.11 1.63
1951 0.27 1.94 1994 1.11 1.60
1952 0.27 1.93 1995 1.15 1.62
1953 0.27 1.93 1996 1.23 1.71
1954 0.29 2.00 1997 1.23 1.68
1955 0.29 1.98 1998 1.06 1.43
1956 0.29 1.93 1999 1.17 1.55
1957 0.30 1.92 2000 1.51 1.97
1958 0.31 1.94 2001 1.46 1.86
1959 0.30 1.88 2002 1.36 1.70
1960 0.31 1.86 2003 1.59 1.95
1961 0.31 1.87 2004 1.88 2.25
1962 0.31 1.83 2005 2.30 2.66
1963 0.31 1.80 2006 2.59 2.91
1964 0.30 1.76 2007 2.80 3.07
1965 0.30 1.73 2008 3.27 3.51
1966 0.31 1.73 2009 2.35 2.50
1967 0.32 1.73 2010 2.79 2.94
1968 0.33 1.71 2011 3.53 3.64
1969 0.34 1.66 2012 3.64 3.69
1970 0.35 1.63 2013 3.53 3.53
1971 0.36 1.59      

Notes: Retail price includes Federal and State Taxes.
Price is for Regular Leaded Gasoline until 1990 and for Regular Unleaded Gasoline thereafter.
Constant dollars calculated using the Gross Domestic Product Inflation Index.
Source: Energy Information Administration, Monthly Energy Review, Table 9.4.

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