The Graph (Data & Graph in XLS (350k) )In today's dollars, the all-time high of $3.13 was reached in Sept. 2005. Prices are DOE's US average prices for all formulations of regular gasoline. Because "Today's dollars" are worth less than the "Today's dollars" of a year ago, The March 1981 price is listed as a bit higher now than it was on this same graph a year ago. You may see inflation-corrected graphs using CPI-U, the urban consumer price index. They will show a lower price in 1981. A newer CPI, called the chained consumer price index, tracks the GDP deflator (yet another measure of inflation) very closely. Unfortunately the new CPI only goes back to 2000. Because of this agreement and the longer history of the deflator, zFacts has used the GDP deflator along with DOE and BLS data on gas prices. |