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Drivers can expect to end 2023 with gasoline prices around their lowest levels of the year. On Tuesday the national average price of gasoline was $3.08 per gallon, according to AAA data. It could ...
Gas prices by year. Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 ...
As of Wednesday, the national average price for regular gasoline stood at $3.25 a gallon, down 19 cents from a month ago and 58 cents from a year ago, according to data from motorist association AAA.
Federal fuel taxes raised $36.4 billion in Fiscal Year 2016, with $26.1 billion raised from gasoline taxes and $10.3 billion raised from diesel and special motor fuel taxes. [16] The tax was last raised in 1993 and is not indexed to inflation. Total inflation from 1993 until 2017 was 68 percent or up to 77 percent, depending on the source. [17 ...
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]
At Christmas, gas was $3.04, four cents less than a year earlier, and one of the lowest prices since the COVID-19 pandemic. [86] Brent ended 2024 down 3 percent, the second down year. Brent finished at $74.64 and WTI at $71.72, about where it started 2024. [87]
How low can gasoline prices go?
SPR drawdowns continued into 2023, lowering the SPR by 45% from January 2021. [14] Since the 2022 sales, the Department of Energy bought back 32.3 million barrels of oil, aiming to purchase at a maximum price of $79 per barrel. [10] However, oil has been purchased exceeding the $79 price cap in March 2024.