Actual and Inflation Adjusted Historical Gasoline Prices in the US

The following chart shows actual and inflation adjusted prices for a gallon of unleaded gasoline in the US over time. It is interesting to note that during the oil embargo of the early 1980’s, inflation adjusted prices of unleaded gasoline were actually as high as they were in 2007. However, the trend from about 2004 onward in inflation adjusted prices is significantly upward. It is also worth noting that the prices of gasoline in late 2008 and in 2009 have dropped considerably from previous levels as the world struggles with a global economic downturn, which is negatively impacting the demand for fuel products.

Year	Nominal Price of a Gallon of Unleaded Regular Fuel (cents per gallon - $USD)	Real Price of a Gallon of Unleaded Regular Fuel (cents per gallon - $USD)
1976	61.4	152.8
1977	65.6	153.4
1978	67.0	146.4
1979	90.3	182.2
1980	124.5	230.4
1981	137.8	233.1
1982	129.6	206.6
1983	124.1	190.3
1984	121.2	179.1
1985	120.2	172.4
1986	92.7	130.1
1987	94.8	129.5
1988	94.6	125.0
1989	102.1	130.0
1990	116.4	142.7
1991	114.0	135.0
1992	112.7	130.5
1993	110.8	125.4
1994	111.2	123.2
1995	114.7	124.5
1996	123.1	131.2
1997	123.4	129.3
1998	105.9	109.8
1999	116.5	119.0
2000	151.0	151.0
2001	146.1	142.7
2002	135.8	130.3
2003	159.1	149.5
2004	188.0	171.7
2005	229.5	203.1
2006	258.9	222.1
2007	280.1	234.1

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