U.S. Department of Energy - Energy Efficiency and Renewable Energy

Vehicle Technologies Program

Fact #426: May 29, 2006
The Big Picture on Gasoline Prices

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

Average Annual Retail Price of Gasoline, 1920-2006
Graph showing the average annual retail price of gasoline in current dollars and constant dollars (adjusted for inflation) from 1920 to 2006. For more detailed information, see the table below.

Note: 2006 data are for March 2006.

Supporting Information


Retail Price of Gasoline, 1920-2006
Year Retail Gasoline Price
(current dollars/gallon)		 Retail Gasoline Price
(constant 2005 dollars/gallon)
1920 0.30 2.91
1921 0.26 2.87
1922 0.25 2.93
1923 0.22 2.51
1924 0.21 2.39
1925 0.22 2.48
1926 0.23 2.58
1927 0.21 2.37
1928 0.21 2.39
1929 0.21 2.45
1930 0.20 2.33
1931 0.17 2.18
1932 0.18 2.56
1933 0.18 2.68
1934 0.19 2.75
1935 0.19 2.69
1936 0.19 2.73
1937 0.20 2.71
1938 0.20 2.70
1939 0.19 2.63
1940 0.18 2.57
1941 0.19 2.55
1942 0.20 2.45
1943 0.21 2.32
1944 0.21 2.28
1945 0.21 2.22
1946 0.21 2.08
1947 0.23 2.02
1948 0.26 2.10
1949 0.27 2.20
1950 0.27 2.17
1951 0.27 2.04
1952 0.28 2.03
1953 0.29 2.10
1954 0.29 2.11
1955 0.29 2.12
1956 0.30 2.15
1957 0.31 2.15
1958 0.30 2.05
1959 0.31 2.05
1960 0.31 2.05
1961 0.31 2.01
1962 0.31 1.98
1963 0.30 1.94
1964 0.30 1.91
1965 0.31 1.93
1966 0.32 1.93
1967 0.33 1.94
1968 0.34 1.89
1969 0.35 1.85
1970 0.36 1.80
1971 0.36 1.76
1972 0.36 1.69
1973 0.39 1.70
1974 0.52 2.08
1975 0.57 2.06
1976 0.61 2.11
1977 0.66 2.11
1978 0.67 2.01
1979 0.90 2.43
1980 1.25 2.95
1981 1.38 2.96
1982 1.30 2.62
1983 1.24 2.43
1984 1.21 2.28
1985 1.20 2.18
1986 0.93 1.65
1987 0.95 1.63
1988 0.95 1.56
1989 1.02 1.61
1990 1.16 1.74
1991 1.14 1.63
1992 1.13 1.57
1993 1.11 1.50
1994 1.11 1.47
1995 1.15 1.47
1996 1.23 1.53
1997 1.23 1.50
1998 1.06 1.27
1999 1.17 1.37
2000 1.51 1.71
2001 1.46 1.61
2002 1.36 1.47
2003 1.59 1.69
2004 1.88 1.94
2005 2.30 2.30
2006* 2.40 2.35

* March 2006 only.
Source: Energy Information Administration, Monthly Energy Review, April 2006, Table 9.4. Historical data from 1920-1975 are from other EIA sources.
Consumer Price Index from the Bureau of Labor Statistics was used to calculate constant dollars.

 

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