⛽ Gasoline Price History
Definition: The price of a gallon of regular unleaded gasoline is one of the most visible and politically sensitive consumer prices. Historically ranging from $0.31 in 1960 to peaks above $5.00, gas prices are driven by crude oil markets, refinery capacity, taxes, and geopolitical events.
History & Analysis: Key price shocks: 1973 Oil Embargo ($0.36 to $0.57), 1979 Iranian Revolution ($0.63 to $1.25), 2008 Financial Crisis ($3.30 to $1.61), 2022 Ukraine Invasion ($3.01 to $3.95). Gas prices are uniquely volatile but show a long-term upward trend of roughly 4.1% annually.
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Data from BLS CPI, FRED, and historical records. Prices are approximate national averages.