Wednesday, July 18, 2012

Gas Prices Peaked Four Years Ago

Gas is currently 21% below its peak.

Here's the average price of gas in the U.S., in current dollars (blue), and its price adjusted for inflation (red). The real price peaked on 7/17/2008 at $4.30/gal (in current dollars).

(Click to enlarge.) 
I wonder what its price would be today if there had been no financial crisis....

Data sources:
Gas price: This Week in Petroleum, EIA
Inflation: CPI, Bureau of Labor Statistics

1 comment:

Brian said...

What we really need is a variable tax that steadies the price to a stable 5% rise annually. Chance of that happening is 0%.