What is the highest gas prices have ever been?
Prior to 2022, the highest ever average recorded by AAA was $4.114 per gallon in July 2008. Average U.S. gas prices soared to a record high of $4.33 in March shortly after Russia invaded Ukraine, which caused crude oil prices to surge and threatened global supply.
What was the highest price for a barrel of oil in 2020?
Crude Oil Prices – 70 Year Historical Chart
| Crude Oil Prices – Historical Annual Data | ||
|---|---|---|
| Year | Average Closing Price | Year High |
| 2021 | $68.17 | $84.65 |
| 2020 | $39.68 | $63.27 |
| 2019 | $56.99 | $66.24 |
How high can oil prices go?
Oil prices have surged, with benchmark West Texas Intermediate (WTI) crude jumping from an average $71 per barrel in December 2021 to $109 in May 2022.
What was the highest gas price in USA?
As of Friday, 10 June, the national average cost of a gallon of gasoline in the US stood at $4.986, according to the AAA.
How much was gas 1971?
0.36 1.67
Supporting Information
| Year | Retail Gasoline Price (Current dollars/gallon) | Retail Gasoline Price (Constant 2015 dollars/gallon) |
|---|---|---|
| 1971 | 0.36 | 1.67 |
| 1972 | 0.36 | 1.59 |
| 1973 | 0.39 | 1.62 |
| 1974 | 0.53 | 2.03 |
What’s the lowest oil price ever?
On April 20, 2020, West Texas Intermediate crude, the U.S. benchmark, dropped to minus $40 a barrel.
Where is the most expensive gasoline in the world?
Hong Kong holds the dubious honor of having the world’s most expensive gas at the moment. The fact that consumers in other countries are paying even more doesn’t erase the financial pain Americans feel as they attempt to balance their budgets, of course.