40 Years of Gasoline Prices

Over the last 40 years, gasoline prices have mostly been on the rise. However, when you account for inflation, prices haven't gone up as much as you might think.

In this new chart from Auteria, we look at historical gas prices since 1977 and the causes behind the obvious spikes.

Gas history ig

As you can see, recessions, embargoes, and crude oil prices are to blame for big changes in gasoline prices. On top of that, with time, gas simply costs more (though it's not that much more).

If the last 40 years are any indicator, we won't be seeing "cheaper" gas in the future. Official predictions support an increase in immediate gas prices, with drivers paying a top dollar of $2.60 per gallon this month (February 2018).

Where do you think gas prices are headed? Share your thoughts with us on Facebook.