Motor fuel priced at $20 in 2018 → $24.92 in 2024

Motor Fuel Inflation Calculator

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Prices for Motor Fuel, 2018-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for motor fuel are 24.61% higher in 2024 versus 2018 (a $4.92 difference in value).

Between 2018 and 2024: Motor fuel experienced an average inflation rate of 3.74% per year. This rate of change indicates significant inflation. In other words, motor fuel costing $20 in the year 2018 would cost $24.92 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation for motor fuel was lower.

In the year 2018: Pricing changed by 13.70%, which is significantly above the average yearly change for motor fuel during the 2018-2024 time period. Compared to inflation for all items in 2018 (2.44%), inflation for motor fuel was much higher.

Price Inflation for Motor fuel since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (38.92%), 2021 (35.77%), and 1974 (35.49%).
View price changes for other categories
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Buying power of $20.00 since 2018

Below are calculations of equivalent buying power for Motor fuel, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2018$20.0013.70%
2019$19.29-3.57%
2020$16.14-16.29%
2021$21.9235.77%
2022$28.9632.13%
2023$25.90-10.56%
2024$24.92-3.79%*

* 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 Motor fuel:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI13.12513.61714.22013.74012.92012.61413.30814.07714.25414.30014.24614.50816.35018.64019.14018.96019.52020.04021.34021.74022.14022.88023.76923.43123.71524.40824.14624.29224.22324.10025.16725.64026.38526.78527.66227.88528.06928.41531.16942.23145.10046.97749.69251.80870.13197.423108.462102.80099.37797.83898.66977.10080.22380.88588.515101.17799.40099.02397.99298.47799.969106.285106.22392.169100.708129.331124.700116.608135.762160.385195.669221.031239.070279.652201.978239.178302.619312.660303.850292.435213.062188.389212.721241.861233.234195.242265.083350.261313.257301.394

Adjust motor fuel prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2018 * 2018 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor fuel was 241.861 in the year 2018 and 301.394 in 2024:

301.394 / 241.861 * $20 = $24.92

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2018 has the same "purchasing power" as $24.92 in 2024 (in the CPI category of Motor fuel).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor fuel in 1935. In addition to motor fuel, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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