According to the U.S. Bureau of Labor Statistics, prices for gasoline (all types) were 37.37% lower in 2020 versus 2012 (a $7.47 difference in value).
Between 2012 and 2020: Gas experienced an average inflation rate of -5.68% per year. This rate of change indicates significant deflation. In other words, gas costing $20 in the year 2012 would cost $12.53 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.47% during this same period, inflation for gas was significantly lower.
In the year 2012: Pricing changed by 3.24%, which is significantly above the average yearly change for gas during the 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for gas was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Gasoline (all types):
Below are calculations of equivalent buying power for Gas, over time, for $20 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|