Average Price Of Oil in America Per Gallon in USD (1975-2025)

Since the 1979 oil crisis, where the price of a gallon of gas went over US $1.00 for the first time, the price of gas has never fully recovered. In more recent decades, oil prices have more than tripled to reach over US $3.50/gallon, hurting household finances and the economy at large. The ever increasing price of gas has been a key driver to look to the
electrification of vehicles. 

And the volatility of gas prices continues as global political instability continues. In March 2022, gas prices in the US exceeded the US $5.00 per gallon mark for the first time, exacerbated by Russia’s invasion of Ukraine.