$4.05.
The record set on September 16, 2008 was $4.05. The near-record-breaking prices in Alabama are following the lead set on a national level. The. AAA reported the national average for a gallon of gas as $4.25.
What was gas prices in Alabama in 2008?
| Year | Jan | Dec |
|---|---|---|
| 2006 | 1.771 | 1.701 |
| 2007 | 1.508 | 2.353 |
| 2008 | 2.387 | 1.032 |
| 2009 | 1.224 | 1.996 |
What is the highest gas price ever in Alabama?
$4.31 cents
That’s where we are at today, however, as the average cost of a gallon of regular unleaded gasoline in Alabama has reached a record high of $4.31 cents. It’s the highest price ever recorded in the state, beating the record set only yesterday.
What was the highest gasoline price in 2008?
$4.11
According to travel website AAA, the current national average price of regular unleaded is $4.72 per gallon. Back in the summer of 2008, right before the financial crisis sent the economy into a deep recession, prices peaked at $4.11.
When was gas $4 a gallon in 2008?
July 17, 2008
The all-time high for average gasoline prices was set in July 17, 2008, at $4.10 per gallon. On Sunday, California had the highest average price per gallon among US states at $5.29.
Whats the highest gas has ever been?
Key Background. 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.
Why was gas expensive in 2008?
New inflation-adjusted peaks
High oil prices and economic weakness contributed to a demand contraction in 2007–2008. In the United States, gasoline consumption declined by 0.4% in 2007, then fell by 0.5% in the first two months of 2008 alone.
Why is gas so high in Alabama?
The Gulf of Mexico produces about 14.6% of the country’s crude oil, and Alabama’s proximity to those offshore sites and coastal oil refineries translates to a gas discount for it, as well as Louisiana and Mississippi.
What’s the most expensive gas prices have been?
U.S. gas prices hit a new record on Monday, with a gallon of regular gas costing an average of $4.865 (not adjusting for inflation), according to the most recent data from AAA. The highest average price — $6.34 — is in California, but 10 states have now surpassed the $5 mark.
What is the highest gas price in America?
Data as of June 30, 2022. Western and Pacific states face the most costly gas in the nation, as the five states with the highest prices are California, Hawaii ($5.60), Alaska ($5.57), Nevada ($5.57) and Oregon ($5.49).
How much did a gallon of gas cost in 2008?
about $3.50 per gallon
In 2008, the average price of gas was about $3.50 per gallon. Although this price is much higher than the current average price of gas, it is significantly lower than prices in previous years. For example, in 2000, the average price of gas was over $1.50 per gallon more than it was in 2008.
When did gas prices spike in 2008?
June 9, 2008—Retail gas prices rise above $4 per gallon. June 15, 2008—Speculators continue to push the price of crude oil. Consumers begin to literally run out of gas attempting to stretch their dollar.
What was the price per gallon in 2008?
| Year | Jan | Nov |
|---|---|---|
| 2008 | 3.095 | 2.208 |
| 2009 | 1.840 | 2.706 |
| 2010 | 2.769 | 2.913 |
| 2011 | 3.148 | 3.443 |
Why did oil spike in 2008?
The spike in oil prices in July 2008 came at the tail end of a decade-long energy crisis. Surging demand from developing economies, stagnant production, financial speculation, and tension in the Middle East caused oil and gas prices to steadily climb over the 2000s.
Why was gas prices so high in 2012?
AAA blamed hurricanes, refinery outages and tensions in the Middle East for the high prices. The third most expensive year on record was 2008, when prices averaged $3.25 a gallon.
How much was gas in 2009?
Supporting Information
| Year | Retail Gasoline Price (Current dollars/gallon) | Retail Gasoline Price (Constant 2015 dollars/gallon) |
|---|---|---|
| 2009 | 2.35 | 2.58 |
| 2010 | 2.79 | 3.02 |
| 2011 | 3.53 | 3.75 |
| 2012 | 3.64 | 3.80 |
How much was gas in the 70s?
Bad Prices Arising
The average American driver went from paying $0.36 per gallon at the pump in 1970 (which is equal to about $2.70 per gallon in today’s dollars) to $1.19 per gallon in 1980 (which is equivalent to about $4.25 per gallon today).
How much was gas in 1982?
Supporting Information
| Year | Gasoline Price (Current dollars/gallon) | Gasoline Price (Constant 2011 dollars/gallon) |
|---|---|---|
| 1982 | 1.31 | 2.68 |
| 1983 | 1.22 | 2.40 |
| 1984 | 1.16 | 2.19 |
| 1985 | 1.13 | 2.08 |
Whats the cheapest gas has ever been?
Gas prices fell substantially from 1997 to 1998, dropping from an average of $1.23 per gallon to just $1.06 per gallon, the lowest since the government began tracking gasoline prices. In some states, average costs fell below a dollar.
Why was gas so high in 2005?
This was caused by an increase of demand after many years of declined production. After this, there was an economic downturn which caused the prices to drop. In 2005, you can see another spike which was reflected upon the hurricanes, Rita and Katrina.
Why is gas so expensive in 2022?
In 2022, U.S. demand for crude oil and gasoline started edging back to pre-pandemic levels, but production is not keeping up. OPEC countries such as Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela are gradually increasing oil exports that were severely limited during the height of the pandemic.