According to the U.S. Bureau of Labor Statistics, prices for gasoline (all types) were 7.88% lower in 2020 versus 2017 (a $1.58 difference in value).
Between 2017 and 2020: Gas experienced an average inflation rate of -2.70% per year. This rate of change indicates significant deflation. In other words, gas costing $20 in the year 2017 would cost $18.42 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.73% during this same period, inflation for gas was significantly lower.
In the year 2017: Pricing changed by 12.88%, which is significantly above the average yearly change for gas during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), inflation for gas was much 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|