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Gas prices are the most expensive in US history, breaking record from 2008

Both set you back $81.50 at the gas station, while you could have filled up with $91.53 a year ago. Get the latest news on investing, money, and more with our free newsletter. Forget road trips, just driving to the office is getting pretty steep.

During the 1970s, when there were a number of gas shortages, the highest average price for gas was $0.86 per gallon in 1979, or $3.53 when adjusted for inflation. But the biggest and most recent factor in the sky-high cost of gas is the Russian invasion of Ukraine and the economic sanctions that have been levied as a result. Russia has huge natural reserves of crude oil and was responsible for around 8% of the United States’ annual supply of oil. In 2012, crude oil prices rose due to foreign unrest again. Iran violated the International Atomic Energy Agency (IAEA) transparency requirements by refusing to disclose its nuclear activities.

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Washington’s $4.40 figure is the third-highest in the nation, by the way, trailing only California ($4.86) and Hawaii ($4.49). States with the lowest cost per gallon of regular include Mississippi ($2.66), Louisiana ($2.71) and Oklahoma ($2.82). If he has any culpability, it is in doing niothing to checkunfettered, runaway corporate greed represented by the oilcompanies lexatrade that continue to post record profits.

Car insurance rates are projections of what drivers with specific characteristics would pay for different amounts of coverage with different insurers. Each average rate on this page is the median of thousands of rates provided by Quadrant Information Services. A final option is to work with an independent insurance agent or insurance broker. This is often a local professional who will take your information by phone or in person, then shop around for insurance on how to buy stocks your behalf. If you’re shopping for another policy along with your auto insurance, such as a home or renters policy, make sure you’re happy with the price and coverage there, too.

Comparing car insurance rates can help you determine which companies are worth requesting a quote from, so you can compare those, too. We recommend comparing car insurance quotes from at least three companies to make sure you get the best deal. We get it — comparing car insurance quotes is about as fun as going to the dentist, but the savings can be worth it. To get started, use the table below to see average rates for different drivers. Gas prices reached an all-time high of $4.331 per gallon on March 11, 2022, AAA reports. However, prices usually fluctuate, and as of March 30, the national average cost per gallon was down to $4.236.

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This left oil producers with a large surplus, so they cut back production. To show how much prices have grown over the years, CNBC Make It gathered data from the U.S. Bureau of Labor Statistics on the average price of a gallon of gas for every year between 1978 and 2021, as well as what the inflation-adjusted cost would be in March 2022.

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Is the president going to change the gas prices?

The greater the population, the more abundant gasoline has become. California has the highest gas prices in the U.S., averaging $5.85 per gallon at the pump on March 21, 2022. Conversely, Kansas enjoyed a relatively inexpensive $3.767 per gallon the same day. According to Fortune, the July 2008 spike in gas prices resulted from several factors.

I really dread customer service phone calls, so I sometimes end up procrastinating instead of taking action on important to-dos. The good news is you can compare auto insurance rates online and even get quotes from insurers without picking up the phone. This way you can make sure you're getting the best deal for your coverage without being put on hold. The reasons for the world's wild gas price differentials are similar to those facing the U.S. Prices differ depending on how far the oil is traveling, the strength of a country's trade structures and more. In addition, many industrialized nations tax their gas at a much higher rate than the U.S., where the federal gas tax has been 0.184 cents per gallon since 1993.

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Once you’ve started entering your information and collecting quotes, make sure all the offers have the same coverage limits and deductibles. Check for optional features, too, such as roadside assistance or accident forgiveness. In addition, the pandemic and resulting worker shortages affected refineries and transportation networks, reducing productivity and increasing overall costs. And those entities pass the costs on to the consumer at the gas pump. Typically the cost of living increases slightly every year but after a tough 2020 the economy bounced back sharply in 2021 and prices rose accordingly. Plus, if consumers spend more money at the pump, this leaves them with less money to spend on other goods and services, creating a ripple effect on the economy.

  • Check for optional features, too, such as roadside assistance or accident forgiveness.
  • California has the most expensive gas in the US as of May. 22, 2025, with the highest gas prices in the US costing $4.87 a gallon.
  • Her efforts included collaborating with television producers in Tokyo to deliver timely news content for FashionOne.
  • At this price point, EVgo also charges a $7 monthly subscription fee.
  • If you don’t want to do the work yourself, you can contact an independent insurance agent.
  • I needed to double that six-month quote for a true comparison.
  • The average price for Gas is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics.
  • Start with our lists of the best car insurance and the cheapest car insurance companies.
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It’s cooled to -260° Fahrenheit to become a liquid and create liquified natural gas (LNG) for cars and trucks. We update our data regularly, but information can change between market makers forex updates. Confirm details with the provider you're interested in before making a decision. While we cover a range of products, our comparison may not include every product or provider in the market. Always confirm important product information with the relevant provider and read the relevant disclosure documents and terms and conditions before making a decision. The most costly SUVs to fill up are the Jeep Grand Cherokee and Toyota 4Runner.

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This is slightly ahead of house hold bills and groceries at 85%. This means what you’ll pay at the pump in 2025 is about $0.11 more expensive than the national six-year average. At the other end of the spectrum, gas is at its cheapest in Mississippi, costing just $2.67 as of May. 22, 2025. The next cheapest state to buy a gallon of gas is Louisiana ($2.72) followed by Alabama ($2.75). The average price of gas in the 1990's was just shy of $1.15. Brokerage services for Atomic Invest are provided by Atomic Brokerage LLC, a registered broker-dealer and member of FINRA and SIPC and an affiliate of Atomic Invest.