According to the U.S. Bureau of Labor Statistics, prices for gasoline (all types) were 898.64% higher in 2023 versus 1973 (a $4.49 difference in value).
The current national average price is $3.58 for "Gasoline, unleaded regular, per gallon/3.785 liters". This data is collected by a national survey and can vary from region to region.
Between 1973 and 2023: Gas experienced an average inflation rate of 4.71% per year. This rate of change indicates significant inflation. In other words, gas costing $0.50 in the year 1973 would cost $4.99 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.93% during this same period, inflation for gas was higher.
In the year 1973: Pricing changed by 9.77%, which is significantly above the average yearly change for gas during the 1973-2023 time period. Compared to inflation for all items in 1973 (6.18%), inflation for gas was much higher.
The average price for Gas is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.
Average prices for Gasoline, unleaded regular, per gallon/3.785 liters:
| Year | Average price (Gas) | Inflation adjusted price (2024 dollars) |
|---|---|---|
| 2024 | $3.58 (latest available value) | $3.58 |
| 2023 | $3.66 | $3.41 |
| 2022 | $4.09 | $3.42 |
| 2021 | $3.05 | $3.35 |
| 2020 | $2.17 | $3.25 |
| 2019 | $2.64 | $3.30 |
| 2018 | $2.74 | $3.30 |
| 2017 | $2.41 | $3.30 |
| 2016 | $2.14 | $3.31 |
| 2015 | $2.45 | $3.35 |
| 2014 | $3.37 | $3.36 |
| 2013 | $3.53 | $3.38 |
| 2012 | $3.64 | $3.39 |
| 2011 | $3.53 | $3.39 |
| 2010 | $2.79 | $3.39 |
| 2009 | $2.35 | $3.38 |
| 2008 | $3.27 | $3.42 |
| 2007 | $2.80 | $3.41 |
| 2006 | $2.59 | $3.42 |
| 2005 | $2.30 | $3.42 |
| 2004 | $1.88 | $3.42 |
| 2003 | $1.59 | $3.42 |
| 2002 | $1.36 | $3.40 |
| 2001 | $1.46 | $3.42 |
| 2000 | $1.51 | $3.41 |
| 1999 | $1.17 | $3.38 |
| 1998 | $1.06 | $3.35 |
| 1997 | $1.23 | $3.38 |
| 1996 | $1.23 | $3.37 |
| 1995 | $1.15 | $3.34 |
| 1994 | $1.11 | $3.29 |
| 1993 | $1.11 | $3.29 |
| 1992 | $1.13 | $3.30 |
| 1991 | $1.14 | $3.33 |
| 1990 | $1.16 | $3.35 |
| 1989 | $1.02 | $3.35 |
| 1988 | $0.95 | $3.40 |
| 1987 | $0.95 | $3.43 |
| 1986 | $0.93 | $3.50 |
| 1985 | $1.20 | $3.54 |
| 1984 | $1.21 | $3.60 |
| 1983 | $1.24 | $3.62 |
| 1982 | $1.30 | $3.66 |
| 1981 | $1.38 | $3.68 |
| 1980 | $1.25 | $3.70 |
| 1979 | $0.90 | $3.73 |
| 1978 | $0.67 | $3.75 |
| 1977 | $0.66 | $3.83 |
| 1976 | $0.61 | $3.79 |
Below are calculations of equivalent buying power for Gas, over time, for $0.50 beginning in 1973. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1973 | $0.50 | 9.77% |
| 1974 | $0.68 | 35.36% |
| 1975 | $0.72 | 6.83% |
| 1976 | $0.75 | 4.16% |
| 1977 | $0.80 | 5.78% |
| 1978 | $0.83 | 4.30% |
| 1979 | $1.12 | 35.34% |
| 1980 | $1.56 | 38.97% |
| 1981 | $1.74 | 11.30% |
| 1982 | $1.65 | -5.27% |
| 1983 | $1.59 | -3.31% |
| 1984 | $1.57 | -1.64% |
| 1985 | $1.58 | 0.84% |
| 1986 | $1.23 | -21.91% |
| 1987 | $1.28 | 4.07% |
| 1988 | $1.29 | 0.84% |
| 1989 | $1.42 | 9.49% |
| 1990 | $1.62 | 14.14% |
| 1991 | $1.59 | -1.72% |
| 1992 | $1.59 | -0.26% |
| 1993 | $1.57 | -1.26% |
| 1994 | $1.57 | 0.46% |
| 1995 | $1.60 | 1.64% |
| 1996 | $1.70 | 6.09% |
| 1997 | $1.69 | -0.10% |
| 1998 | $1.47 | -13.36% |
| 1999 | $1.60 | 9.28% |
| 2000 | $2.06 | 28.40% |
| 2001 | $1.99 | -3.58% |
| 2002 | $1.86 | -6.42% |
| 2003 | $2.17 | 16.48% |
| 2004 | $2.56 | 18.17% |
| 2005 | $3.12 | 21.93% |
| 2006 | $3.52 | 12.97% |
| 2007 | $3.81 | 8.19% |
| 2008 | $4.45 | 16.60% |
| 2009 | $3.23 | -27.36% |
| 2010 | $3.82 | 18.38% |
| 2011 | $4.83 | 26.45% |
| 2012 | $4.99 | 3.24% |
| 2013 | $4.85 | -2.86% |
| 2014 | $4.66 | -3.86% |
| 2015 | $3.40 | -27.12% |
| 2016 | $3.01 | -11.51% |
| 2017 | $3.39 | 12.88% |
| 2018 | $3.86 | 13.61% |
| 2019 | $3.72 | -3.57% |
| 2020 | $3.11 | -16.32% |
| 2021 | $4.23 | 36.00% |
| 2022 | $5.57 | 31.71% |
| 2023 | $4.99 | -10.40% |
| 2024 | $4.65 | -6.88%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Gasoline (all types):
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 13.150 | 13.633 | 14.220 | 13.740 | 12.940 | 12.614 | 13.323 | 14.108 | 14.254 | 14.300 | 14.246 | 14.508 | 16.363 | 18.640 | 19.140 | 18.980 | 19.520 | 20.040 | 21.340 | 21.740 | 22.160 | 22.920 | 23.777 | 23.446 | 23.731 | 24.408 | 24.154 | 24.292 | 24.254 | 24.133 | 25.200 | 25.660 | 26.415 | 26.792 | 27.685 | 27.915 | 28.069 | 28.423 | 31.200 | 42.231 | 45.115 | 46.992 | 49.708 | 51.846 | 70.169 | 97.515 | 108.531 | 102.808 | 99.400 | 97.769 | 98.592 | 76.992 | 80.123 | 80.800 | 88.469 | 100.977 | 99.238 | 98.977 | 97.731 | 98.185 | 99.792 | 105.869 | 105.762 | 91.631 | 100.131 | 128.569 | 123.969 | 116.008 | 135.123 | 159.669 | 194.685 | 219.938 | 237.959 | 277.457 | 201.555 | 238.594 | 301.694 | 311.470 | 302.577 | 290.889 | 212.007 | 187.602 | 211.770 | 240.599 | 232.003 | 194.130 | 264.017 | 347.747 | 311.574 | 290.153 |