When readjusted for inflation, the average yearly price of gasoline has actually fluctuated greatly, and also has recently experienced sharp increases and decreases. The impact of the U.S. Embargo of oil indigenous Iran have the right to be watched in the at an early stage 1980"s with the price of petrol peaking in 1982. Native 2002 to 2008 the price that gasoline climbed substantially, however then dropped sharply in 2009 during the financial recession. In 2012, prices got to the highest possible level in the eighty-year collection in both existing and consistent dollars, but began a steep decline thereafter. In consistent dollar terms, the price of gasoline in 2015 was only seven cents higher than in 1929.

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Average Historical annual Gasoline Pump Price, 1929-2015
*

Notes:

Retail price has Federal and also State taxes.Price is for regular leaded gasoline till 1990 and also for regular unleaded gasoline thereafter.Current dollars space not readjusted for inflation; continuous 2015 dollars are adjusted for inflation so that a comparison deserve to be made in purchasing power amongst years. Consistent dollars calculated using the Gross domestic Product (GDP) Inflation Index.

Fact #915 Dataset

Supporting InformationAverage Historical annual Gasoline Pump Price, 1929-2015YearRetail gasoline Price(Current dollars/gallon)Retail gasoline Price(Constant 2015 dollars/gallon)
19290.212.38
19300.202.30
19310.172.18
19320.182.61
19330.182.66
19340.192.67
19350.192.62
19360.192.67
19370.202.63
19380.202.64
19390.192.56
19400.182.49
19410.192.43
19420.202.39
19430.212.30
19440.212.25
19450.212.19
19460.211.96
19470.231.97
19480.262.09
19490.272.17
19500.272.14
19510.272.03
19520.272.01
19530.292.08
19540.292.08
19550.292.05
19560.302.04
19570.312.05
19580.301.96
19590.311.94
19600.311.95
19610.311.91
19620.311.88
19630.301.84
19640.301.82
19650.311.83
19660.321.83
19670.331.84
19680.341.79
19690.351.77
19700.361.72
19710.361.67
19720.361.59
19730.391.62
19740.532.03
19750.571.98
19760.591.96
19770.621.94
19780.631.83
19790.862.31
19801.192.95
19811.312.97
19821.222.60
19831.162.37
19841.132.23
19851.122.14
19860.861.61
19870.901.64
19880.901.59
19891.001.70
19901.151.89
19911.141.81
19921.131.75
19931.111.68
19941.111.65
19951.151.67
19961.231.76
19971.231.74
19981.061.47
19991.171.60
20001.512.02
20011.461.91
20021.361.75
20031.592.01
20041.882.32
20052.302.74
20062.593.00
20072.803.16
20083.273.61
20092.352.58
20102.793.02
20113.533.75
20123.643.80
20133.533.62
20143.373.40
20152.452.45

Sources:priziv.org info Administration, Monthly priziv.org Review, Table 9.4.

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U.S. Department of Commerce, bureau of economic Analysis, national Income and also Product Accounts, Table 1.1.9. Implicit Price Deflators for Gross residential Product, February 2016.