Highest and Lowest Gas Prices

Highest gas price was recorded in 2022 at $3.95 per gallon, while the lowest price was in 1998 at $1.03 per gallon, showcasing a significant fluctuation over the years.

Recent Trend in Gas Prices

Decrease in gas prices observed from 2022 to 2023, moving from $3.95 to $3.52 per gallon, indicating a recent downward trend.

Gas Price Volatility

Most volatile years for gas prices were between 2008 and 2009, with a sharp decline from $3.25 to $2.35 per gallon, reflecting the impact of global economic conditions.

Decade-wise Average Gas Prices

Decade of 2010s had an average gas price of approximately $2.81 per gallon, higher than the previous decades, indicating an upward trend in fuel costs over the long term.

2000s Significant Increase

2000 saw gas prices at $1.48 per gallon, which escalated to $2.27 by 2005, highlighting a substantial increase in just five years.

Stable Prices in the Late 90s

Gas prices were relatively stable during the late 1990s, with 1998 being the lowest at $1.03 and only a slight increase to $1.14 in 1999.

Notable Recovery Post-2008 Economic Downturn

After a drop in 2009 to $2.35 per gallon, prices rebounded to $2.78 in 2010, marking a recovery from the economic downturn's effects.

Comparison of Early 2000s to 2010s

Early 2000s experienced low gas prices, with 2002 having a price of $1.35, contrasted with the significant rise in prices by the 2010s.

Year-over-Year Price Changes

Year-over-year analysis shows that gas prices experienced significant fluctuations, with increases and decreases often exceeding 10% from one year to the next, underscoring the market's volatility.