According to the U.S. Bureau of Labor Statistics, prices for gasoline, unleaded premium are 2.39% lower in 2024 versus 2023 (a $0.10 difference in value).
The current national average price is $4.12 for "Gasoline, unleaded premium, per gallon/3.785 liters". This data is collected by a national survey and can vary from region to region.
Between 2023 and 2024: Gasoline, unleaded premium experienced an average inflation rate of -2.39% per year. This rate of change indicates significant deflation. In other words, gasoline, unleaded premium costing $4.12 in the year 2023 would cost $4.02 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for gasoline, unleaded premium was significantly lower.
In the year 2023: Pricing changed by -7.74%, which is significantly below the average yearly change for gasoline, unleaded premium during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for gasoline, unleaded premium was much lower.
The average price for Gasoline, unleaded premium 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 premium, per gallon/3.785 liters:
| Year | Average price (Gasoline, unleaded premium) | Inflation adjusted price (2024 dollars) |
|---|---|---|
| 2024 | $4.12 (latest available value) | $4.12 |
| 2023 | $4.47 | $4.36 |
| 2022 | $4.86 | $4.38 |
| 2021 | $3.69 | $4.31 |
| 2020 | $2.79 | $4.20 |
| 2019 | $3.21 | $4.21 |
| 2018 | $3.27 | $4.21 |
| 2017 | $2.91 | $4.23 |
| 2016 | $2.61 | $4.24 |
| 2015 | $2.87 | $4.25 |
| 2014 | $3.71 | $4.23 |
| 2013 | $3.84 | $4.24 |
| 2012 | $3.92 | $4.25 |
| 2011 | $3.79 | $4.25 |
| 2010 | $3.05 | $4.27 |
| 2009 | $2.61 | $4.28 |
| 2008 | $3.52 | $4.29 |
| 2007 | $3.03 | $4.30 |
| 2006 | $2.81 | $4.29 |
| 2005 | $2.49 | $4.28 |
| 2004 | $2.07 | $4.29 |
| 2003 | $1.78 | $4.31 |
| 2002 | $1.56 | $4.35 |
| 2001 | $1.66 | $4.36 |
| 2000 | $1.69 | $4.30 |
| 1999 | $1.36 | $4.32 |
| 1998 | $1.25 | $4.31 |
| 1997 | $1.42 | $4.30 |
| 1996 | $1.41 | $4.28 |
| 1995 | $1.34 | $4.24 |
| 1994 | $1.30 | $4.18 |
| 1993 | $1.30 | $4.19 |
| 1992 | $1.32 | $4.19 |
| 1991 | $1.32 | $4.20 |
| 1990 | $1.35 | $4.22 |
| 1989 | $1.20 | $4.24 |
| 1988 | $1.11 | $4.25 |
| 1987 | $1.09 | $4.27 |
| 1986 | $1.08 | $4.32 |
| 1985 | $1.34 | $4.34 |
| 1984 | $1.37 | $4.48 |
| 1983 | $1.38 | $4.51 |
| 1982 | $1.42 | $4.53 |
| 1981 | $1.47 | $4.54 |
Below are calculations of equivalent buying power for Gasoline, unleaded premium, over time, for $4.12 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $4.12 | -7.74% |
| 2024 | $4.02 | -2.39%* |
* 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 premium:
| Year | 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 | 105.080 | 101.317 | 99.608 | 99.069 | 100.085 | 81.431 | 83.162 | 84.585 | 91.662 | 103.654 | 102.115 | 101.869 | 100.931 | 101.285 | 102.177 | 107.100 | 106.838 | 94.162 | 101.831 | 127.723 | 123.438 | 116.269 | 133.815 | 156.377 | 188.731 | 212.062 | 228.966 | 266.547 | 197.659 | 231.780 | 289.460 | 299.617 | 293.859 | 284.886 | 219.014 | 199.810 | 223.312 | 252.125 | 247.540 | 215.465 | 277.919 | 360.447 | 332.534 | 324.594 |