How much was gas back in 2013?
Gasoline has always been subject to price swings but the degree of price volatility has increased since the mid-1970s….Supporting Information.
| Year | Retail Gasoline Price (Current dollars/gallon) | Retail Gasoline Price (Constant 2015 dollars/gallon) |
|---|---|---|
| 2011 | 3.53 | 3.64 |
| 2012 | 3.64 | 3.69 |
| 2013 | 3.53 | 3.53 |
| 2014 | 3.37 | 3.38 |
What was the highest gas price in 2013?
In constant dollar terms, the price of gasoline in 2015 was only seven cents higher than in 1929….Supporting Information.
| Year | Retail Gasoline Price (Current dollars/gallon) | Retail Gasoline Price (Constant 2015 dollars/gallon) |
|---|---|---|
| 2011 | 3.53 | 3.75 |
| 2012 | 3.64 | 3.80 |
| 2013 | 3.53 | 3.62 |
| 2014 | 3.37 | 3.40 |
What is the reason for the sudden increase in gas prices?
The reasons for the price spike are textbook supply and demand from an economics textbook: Americans have gotten back to driving more this summer as the pandemic has moderated, and a combination of domestic supply interruptions and trouble in energy markets overseas have made crude oil more expensive.
Why did gas prices spike in 2008?
In June 2008 U.S. energy secretary Samuel Bodman said that insufficient oil production, not financial speculation, was driving rising crude prices. He said that oil production had not kept pace with growing demand.
What is the average price of gas per gallon in 2013?
However, the average regular retail gasoline price for all of 2013 so far remains about 5 cents per gallon, or 1%, down from the average price over the same period last year. Prices varied greatly by regional market so far in 2013 (see graphs below).
What was the highest price for gas in 2012?
The highest average gas price was $3.64 in 2012, which is 167% more expensive than a decade earlier. What year did gas go over one dollar? The average price of gas first went over $1 a gallon in 1980, when it went from $0.86 per gallon to $1.19 per gallon.
How can I predict the price of gasoline?
You can choose to view prices in US or Canadian dollars and compare the average retail gasoline price versus crude oil pricing. Pick from a variety of time frames and specific locations to help with predictions about whether gas prices are going up or down.
How high did gasoline prices rise in 2015?
U.S. gasoline prices peaked at 3.62 U.S. dollars per gallon in 2012. Although U.S. gasoline prices dipped in 2013, they remained well above the three-dollar mark throughout 2014. 2015 was different. In light of plummeting crude oil prices, U.S. regular retail prices of gasoline fell to 2.43 in 2015 and a record low of 2.14 in 2016.