Fact #364: March 21, 2005
Historical Gas Prices, 1919–2004

On average, the price of gasoline was higher in 2004 than it has ever been before; however, when adjusted for inflation (constant dollars), gasoline cost more in 1981 than it does today.

Supporting Information

Average Annual Gasoline Pump Price, 1919–2004

Year	Retail Gasoline Price (current dollars/gallon)	Retail Gasoline Price (constant 2005 dollars/gallon)
1919	0.25	2.84
1920	0.30	2.87
1921	0.26	2.83
1922	0.25	2.90
1923	0.22	2.48
1924	0.21	2.36
1925	0.22	2.44
1926	0.23	2.54
1927	0.21	2.34
1928	0.21	2.35
1929	0.21	2.41
1930	0.20	2.30
1931	0.17	2.15
1932	0.18	2.53
1933	0.18	2.65
1934	0.19	2.71
1935	0.19	2.64
1936	0.19	2.70
1937	0.20	2.68
1938	0.20	2.67
1939	0.19	2.60
1940	0.18	2.53
1941	0.19	2.52
1942	0.20	2.42
1943	0.21	2.29
1944	0.21	2.25
1945	0.21	2.19
1946	0.21	2.05
1947	0.23	1.99
1948	0.26	2.07
1949	0.27	2.16
1950	0.27	2.14
1951	0.27	2.01
1952	0.28	2.00
1953	0.29	2.07
1954	0.29	2.08
1955	0.29	2.09
1956	0.30	2.12
1957	0.31	2.12
1958	0.30	2.02
1959	0.31	2.03
1960	0.31	2.03
1961	0.31	1.98
1962	0.31	1.95
1963	0.30	1.91
1964	0.30	1.89
1965	0.31	1.90
1966	0.32	1.91
1967	0.33	1.91
1968	0.34	1.87
1969	0.35	1.83
1970	0.36	1.77
1971	0.36	1.73
1972	0.36	1.86
1973	0.39	1.68
1974	0.52	2.05
1975	0.57	2.05
1976	0.59	2.01
1977	0.62	1.97
1978	0.63	1.86
1979	0.86	2.28
1980	1.25	2.91
1981	1.38	2.92
1982	1.26	2.51
1983	1.20	2.33
1984	1.18	2.18
1985	1.17	2.09
1986	0.89	1.56
1987	0.91	1.54
1988	0.91	1.48
1989	0.98	1.53
1990	1.13	1.66
1991	1.10	1.56
1992	1.09	1.49
1993	1.07	1.43
1994	1.07	1.40
1995	1.11	1.40
1996	1.20	1.47
1997	1.20	1.44
1998	1.03	1.22
1999	1.14	1.31
2000	1.49	1.66
2001	1.43	1.55
2002	1.34	1.44
2003	1.56	1.63
2004	1.85	1.89
Source: Energy Information Administration

 

Return to 2005 Facts of the Week