How do recent gasoline prices compare with historical prices?
Two ways to compare current gasoline prices with historical prices are by the nominal price or the real price. The graph below shows the average annual nominal and real prices of retail regular-grade gasoline from 1976 through 2025. The real prices are based on the value of the U.S. dollar in May 2024. The graph also shows the U.S. Energy Information Administration's (EIA) forecast for average annual prices for 2024 and 2025 in the May 2024 Short-Term Energy Outlook.
EIA publications that provide historical, recent, and projected U.S. retail gasoline prices (including federal, state, and local taxes) include:
- Gasoline and Diesel Fuel Update—This weekly report provides the most recent available and historical U.S. weekly, nominal prices for retail gasoline nationally and by PADD region. Gasoline prices from the report are available by grade and formulation and by area.
- Short-Term Energy Outlook (STEO) —This monthly report includes forecasts for average monthly, quarterly, and annual U.S. retail, regular-grade gasoline prices for the current year and for the next one to two years. The STEO Real Prices Viewer shows historical and forecasted nominal and real prices for retail regular-grade gasoline.
- Annual Energy Outlook (AEO)—This annual report includes projections for average annual real and nominal prices for U.S. retail gasoline out to the year 2050 in Reference case Table 12: Petroleum and Other Liquids Prices and projections in side cases.
Last updated: July 12, 2024.