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Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
The leading crude oil-producing areas in the United States in 2023 were Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico. [2] The United States became the largest producer of crude oil of any nation in history in 2023. [3] Natural gas production reached record highs. [4]
Gas prices have been on a downward trend recently, with the national average at $3.40 per gallon, according to AAA.. The EIA forecasts the average for 2023 to come in at $3.55 per gallon, compared ...
Last month, U.S. gasoline prices rose largely due to regional refinery outages in the west coast and the Midwest. In California, costs are up more than $1 per gallon in the last month whereas in ...
For somebody driving 12,000 miles a year who averages 25 miles per gallon, the added cost would be about $91 per year. The real-world difference is greater, because gas prices were lower in 2019 ...
Monthly Energy Review: Provides statistics on monthly and annual U.S. energy consumption going back in some cases to 1949. The figures are given in units of quads (quadrillion BTUs.) [13] Annual Energy Review: EIA's primary report of historical annual energy statistics. For many series, data begin with the year 1949.
Good news! According to the U.S. Energy Information Administration, Americans had to spend only 4% of their pre-tax income on gasoline for their cars in 2012 -- a sum that hasn't increased since ...