Although the price of gasoline can change rapidly, the U.S. average monthly price for all grades of gasoline has been about $2–$3 per gallon since December 2014, when adjusted for inflation.
August 16, 2021Although the price of gasoline can change rapidly, the U.S. average monthly price for all grades of gasoline has been about $2–$3 per gallon since December 2014, when adjusted for inflation. Crude oil prices affect the price of gasoline, but many other factors also contribute to the often-changing price of gasoline. From 2011 to 2014, the average gasoline price hovered around $4 per gallon, adjusted for inflation. June and July 2008 marked the highest average gasoline price ($4.87 per gallon). The most recent low point for gasoline price was during April and May 2020.

Note: Adjusted by the Bureau of Labor Statistics’ Consumer Price Inflation Index.
Source: Energy Information Administration, Monthly Energy Review, June 2021, Table 9.4.