Gasoline, unleaded midgrade priced at $3.72 in 1997 $11.14 in 2024

Gasoline, Unleaded Midgrade Inflation Calculator

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Prices for Gasoline, Unleaded Midgrade, 1997-2024 ($3.72)

According to the U.S. Bureau of Labor Statistics, prices for gasoline, unleaded midgrade are 199.33% higher in 2024 versus 1997 (a $7.42 difference in value).

The current national average price is $3.72 for "Gasoline, unleaded midgrade, per gallon/3.785 liters". This data is collected by a national survey and can vary from region to region.

Between 1997 and 2024: Gasoline, unleaded midgrade experienced an average inflation rate of 4.14% per year. This rate of change indicates significant inflation. In other words, gasoline, unleaded midgrade costing $3.72 in the year 1997 would cost $11.14 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for gasoline, unleaded midgrade was higher.

In the year 1997: Pricing changed by -0.11%, which is significantly below the average yearly change for gasoline, unleaded midgrade during the 1997-2024 time period. Compared to inflation for all items in 1997 (2.33%), inflation for gasoline, unleaded midgrade was lower.

Price Inflation for Gasoline, unleaded midgrade since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (31.66%), 2022 (30.66%), and 2000 (27.32%).

Price history

The average price for Gasoline, unleaded midgrade 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 midgrade, per gallon/3.785 liters:

YearAverage price (Gasoline, unleaded midgrade)Inflation adjusted price (2024 dollars)
2024$3.72 (latest available value)$3.72
2023$4.07$4.07
2022$4.43$4.31
2021$3.40$3.01
2020$2.52$2.92
2019$2.96$4.52
2018$3.03$3.99
2017$2.69$3.45
2016$2.40$3.48
2015$2.69$4.37
2014$3.55$5.20
2013$3.68$4.02
2012$3.77$4.00
2011$3.66$3.79
2010$2.91$3.11
2009$2.47$3.33
2008$3.38$5.37
2007$2.91$3.39
2006$2.69$3.66
2005$2.39$3.52
2004$1.98$3.28
2003$1.69$3.40
2002$1.47$3.48
2001$1.58$4.32
2000$1.60$4.13
1999$1.26$3.13
1998$1.16$3.66
1997$1.33$4.55
1996$1.32$3.96
1995$1.24$3.72
1994$1.22$3.85
1993$1.19$3.79

View price changes for other categories
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Buying power of $3.72 since 1997

Below are calculations of equivalent buying power for Gasoline, unleaded midgrade, over time, for $3.72 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1997$3.72-0.11%
1998$3.25-12.71%
1999$3.538.58%
2000$4.4927.32%
2001$4.32-3.85%
2002$4.06-6.01%
2003$4.7015.79%
2004$5.5317.64%
2005$6.7221.56%
2006$7.5712.72%
2007$8.188.05%
2008$9.5616.80%
2009$7.01-26.70%
2010$8.2617.93%
2011$10.4025.86%
2012$10.753.36%
2013$10.50-2.30%
2014$10.19-2.91%
2015$7.61-25.32%
2016$6.85-9.97%
2017$7.6812.07%
2018$8.6813.00%
2019$8.46-2.49%
2020$7.30-13.75%
2021$9.6131.66%
2022$12.5630.66%
2023$11.43-8.95%
2024$11.14-2.62%*

* 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 midgrade:

Year19931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000103.238104.423110.362110.23896.231104.485133.031127.915120.223139.208163.769199.077224.392242.455283.195207.588244.818308.138318.483311.144302.087225.606203.107227.627257.228250.813216.333284.831372.148338.837329.976

Adjust gasoline, unleaded midgrade prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1997 * 1997 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Gasoline, unleaded midgrade was 110.238 in the year 1997 and 329.976 in 2024:

329.976 / 110.238 * $3.72 = $11.14

Therefore, according to U.S. Bureau of Labor Statistics, $3.72 in 1997 has the same "purchasing power" as $11.14 in 2024 (in the CPI category of Gasoline, unleaded midgrade).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Gasoline, unleaded midgrade in 1993. In addition to gasoline, unleaded midgrade, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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