highest recorded average price
| Price | Date | |
|---|---|---|
| Regular Unleaded | $4.557 | 6/15/22 |
| Diesel | $5.373 | 6/21/22 |
What is the highest gas price ever in Louisiana?
According to AAA, the highest recorded average price in Louisiana was $4.012 for regular unleaded and $4.766 for diesel, both recorded on July 17, 2008. In Baton Rouge and New Orleans, gas is averaging at $3.88 per gallon.
What is the highest price of gas in history?
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.
Was gasoline ever over $4 a gallon?
Not too long ago in some parts of the United States, paying more than $4 for a gallon of gas was seen as a coastal problem faced by Americans in pricey big cities. But now, for the first time, the average price for a gallon of gas has surpassed $4 in all 50 states.
What is the highest price for a gallon of gas?
Prices are generally highest in the West, with gas at $5.54 in Washington and Oregon, $5.31 in Arizona, and more than $5.50 on average in Alaska and Hawaii. Only one state east of the Rockies has an average gas price above $5.30 a gallon: Illinois, where the average price is $5.56.
Why was gas expensive in 2008?
At the same time, unemployment rose as companies reduced output since aggregate demand was falling. As a result, less energy was consumed and the demand for oil and gas fell in turn, putting additional pressure on its price.
How much was gas a year ago in Louisiana?
A gallon was $2.50 in Louisiana a year ago
Average gas prices in Louisiana topped $4 per gallon, AAA reported Wednesday.
Why was gas prices so high in 2012?
2012. In February, concerns about potential military action against Iran—by either Israel or the U.S.—caused high oil prices. At the same time, some U.S. oil refineries were closing. 9 Additionally, oil and gas prices tend to rise every spring, in anticipation of increased demand during the summer.
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.
When was gas most expensive in the US?
— — The average price for regular gasoline across the USA was a record $3.508 a gallon Monday, eclipsing the inflation-adjusted peak of $3.413 set in March 1981, when the average was $1.417, according to the U.S. Energy Information Administration.
When was the last time we had $4 gas?
U.S. gas prices by week since 1991
Until 2022, gas prices had peaked in the U.S. in the summer of 2008, topping $4 per gallon for regular, conventional gasoline.
What was the highest gas prices in 2008?
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.
How much was gas 2008?
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.
How much is gas in LA right now?
$5.495
Los Angeles-Long Beach
| Regular | Premium | |
|---|---|---|
| Current Avg. | $5.495 | $5.831 |
| Yesterday Avg. | $5.509 | $5.848 |
| Week Ago Avg. | $5.649 | $5.971 |
| Month Ago Avg. | $6.236 | $6.562 |
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 |
Will gas ever go down?
Although some regions of the country are already seeing gas prices fall below $4 a gallon, Rajendran predicted that the average national gas price would likely drift to higher than $4.50 before tapering off and reaching $4 a gallon or below by the end of the year as demand subsides.
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.
How much was a gallon of gas in 1970?
$0.36 per gallon
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 a gallon of gas in 1950?
0.27 2.07
Supporting Information
| Year | Gasoline Price (Current dollars/gallon) | Gasoline Price (Constant 2011 dollars/gallon) |
|---|---|---|
| 1950 | 0.27 | 2.07 |
| 1951 | 0.27 | 1.93 |
| 1952 | 0.27 | 1.93 |
| 1953 | 0.27 | 1.92 |
Why is Louisiana gas going up?
The current price of gas in Louisiana is slightly below the national average, but it’s still much higher than the state has ever seen. Experts suggest high gas prices are due to the recent conflict between Russia and Ukraine, high global oil demands, and low inventory of supply.
Why is gas so expensive in Louisiana?
Josh Milazzo, director of retail operations for Denham Springs-based Lard Oil, said Louisiana has the lowest profit margin for fuel out of any state in the country. That’s due to the increased competition from the number of refineries and fuel terminals in the state.