According to the U.S. Bureau of Labor Statistics, prices for gasoline, unleaded regular are 271.76% higher in 2024 versus 1988 (a $9.08 difference in value).
The current national average price is $3.34 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 1988 and 2024: Gasoline, unleaded regular experienced an average inflation rate of 3.71% per year. This rate of change indicates significant inflation. In other words, gasoline, unleaded regular costing $3.34 in the year 1988 would cost $12.42 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.74% during this same period, inflation for gasoline, unleaded regular was higher.
In the year 1988: Pricing changed by 0.39%, which is significantly below the average yearly change for gasoline, unleaded regular during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), inflation for gasoline, unleaded regular was much lower.
The average price for Gasoline, unleaded regular 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 (Gasoline, unleaded regular) | Inflation adjusted price (2024 dollars) |
|---|---|---|
| 2024 | $3.34 (latest available value) | $3.34 |
| 2023 | $3.66 | $3.55 |
| 2022 | $4.09 | $3.54 |
| 2021 | $3.05 | $3.49 |
| 2020 | $2.17 | $3.41 |
| 2019 | $2.64 | $3.44 |
| 2018 | $2.74 | $3.43 |
| 2017 | $2.41 | $3.43 |
| 2016 | $2.14 | $3.45 |
| 2015 | $2.45 | $3.47 |
| 2014 | $3.37 | $3.44 |
| 2013 | $3.53 | $3.46 |
| 2012 | $3.64 | $3.46 |
| 2011 | $3.53 | $3.46 |
| 2010 | $2.79 | $3.47 |
| 2009 | $2.35 | $3.47 |
| 2008 | $3.27 | $3.48 |
| 2007 | $2.80 | $3.48 |
| 2006 | $2.59 | $3.48 |
| 2005 | $2.30 | $3.49 |
| 2004 | $1.88 | $3.50 |
| 2003 | $1.59 | $3.51 |
| 2002 | $1.36 | $3.51 |
| 2001 | $1.46 | $3.52 |
| 2000 | $1.51 | $3.51 |
| 1999 | $1.17 | $3.52 |
| 1998 | $1.06 | $3.51 |
| 1997 | $1.23 | $3.52 |
| 1996 | $1.23 | $3.50 |
| 1995 | $1.15 | $3.48 |
| 1994 | $1.11 | $3.43 |
| 1993 | $1.11 | $3.44 |
| 1992 | $1.13 | $3.44 |
| 1991 | $1.14 | $3.47 |
| 1990 | $1.16 | $3.48 |
| 1989 | $1.02 | $3.49 |
| 1988 | $0.95 | $3.52 |
| 1987 | $0.95 | $3.54 |
| 1986 | $0.93 | $3.59 |
| 1985 | $1.20 | $3.60 |
| 1984 | $1.21 | $3.67 |
| 1983 | $1.24 | $3.69 |
| 1982 | $1.30 | $3.73 |
| 1981 | $1.38 | $3.75 |
| 1980 | $1.25 | $3.78 |
| 1979 | $0.90 | $3.79 |
| 1978 | $0.67 | $3.79 |
| 1977 | $0.66 | $3.90 |
| 1976 | $0.61 | $3.90 |
Below are calculations of equivalent buying power for Gasoline, unleaded regular, over time, for $3.34 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1988 | $3.34 | 0.39% |
| 1989 | $3.63 | 8.78% |
| 1990 | $4.15 | 14.31% |
| 1991 | $4.08 | -1.70% |
| 1992 | $4.06 | -0.44% |
| 1993 | $4.00 | -1.66% |
| 1994 | $4.02 | 0.60% |
| 1995 | $4.09 | 1.82% |
| 1996 | $4.36 | 6.52% |
| 1997 | $4.36 | -0.07% |
| 1998 | $3.74 | -14.10% |
| 1999 | $4.11 | 9.89% |
| 2000 | $5.34 | 29.90% |
| 2001 | $5.15 | -3.66% |
| 2002 | $4.80 | -6.73% |
| 2003 | $5.62 | 17.13% |
| 2004 | $6.67 | 18.60% |
| 2005 | $8.16 | 22.35% |
| 2006 | $9.24 | 13.18% |
| 2007 | $10.00 | 8.26% |
| 2008 | $11.66 | 16.57% |
| 2009 | $8.42 | -27.78% |
| 2010 | $9.99 | 18.66% |
| 2011 | $12.66 | 26.80% |
| 2012 | $13.07 | 3.19% |
| 2013 | $12.66 | -3.12% |
| 2014 | $12.15 | -4.04% |
| 2015 | $8.76 | -27.88% |
| 2016 | $7.71 | -12.05% |
| 2017 | $8.72 | 13.08% |
| 2018 | $9.91 | 13.71% |
| 2019 | $9.53 | -3.84% |
| 2020 | $7.92 | -16.85% |
| 2021 | $10.87 | 37.16% |
| 2022 | $14.35 | 32.02% |
| 2023 | $12.80 | -10.78% |
| 2024 | $12.42 | -3.01%* |
* 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, unleaded regular:
| Year | 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 | 46.623 | 49.823 | 52.254 | 70.492 | 97.446 | 108.569 | 102.738 | 99.423 | 97.808 | 98.808 | 76.392 | 79.246 | 79.554 | 86.538 | 98.923 | 97.238 | 96.808 | 95.200 | 95.769 | 97.515 | 103.869 | 103.792 | 89.154 | 97.969 | 127.262 | 122.608 | 114.362 | 133.954 | 158.869 | 194.369 | 219.985 | 238.151 | 277.607 | 200.479 | 237.888 | 301.650 | 311.274 | 301.569 | 289.398 | 208.711 | 183.571 | 207.579 | 236.040 | 226.973 | 188.739 | 258.872 | 341.765 | 304.937 | 295.747 |