Gas prices in 2025 swung enough to change week to week budgets, even as drivers kept expecting stability. That mismatch between what people plan for and what prices actually do shows up clearly in the statistics. Let’s break down the key numbers so you can see where the shifts really started and how they played out.
Key Takeaways
- WTI crude oil averaged $82.50 per barrel in Oct 2024, impacting gas by 60% correlation
- EIA forecasts US gas at $3.45/gal average 2025 from crude $75/bl
- As of Oct 2024, Hong Kong has the highest global gas price at $2.98 per liter
- In 1929, the average price of gasoline in the US was $0.21 per gallon in nominal dollars
- As of October 7, 2024, California average gas price is $4.85 per gallon for regular
Gas prices eased slightly this week, offering a small break to drivers despite ongoing volatility.
Related reading
01 · Category
Factors Influencing Prices22 stats
01
WTI crude oil averaged $82.50per barrel in Oct 2024, impacting gas by 60% correlation
02
US federal gas tax is $0.184per gallon unchanged since 1993
03
Average state gas taxes total $0.31per gallon in 2024, varying by state
04
Refining margins added $0.50per gallon to US gas in summer 2024
05
Brent crude at $84per barrel Oct 2024 drives 55% of pump price
06
Distribution/marketing costs $0.20-0.30 per gallon in US 2024
07
Taxes comprise 15-20% of US retail gas price on average
08
Crude oil volatility increased gas prices 25% in 2022
09
Geopolitical events like Ukraine war added $1.00/gal to 2022 peaks
10
US gasoline demand fell 5% in 2020 pandemic, lowering prices 40%
11
Ethanol blending (10%) reduces US gas price by $0.10/gal
12
Seasonal summer blends increase refining costs by $0.15/gal
13
Hurricane disruptions in 2024 added $0.20/gal temporarily
14
OPEC+ cuts 2mb/d in 2024 supported crude $80+
15
US shale production 13mb/d in 2024 capped price rises
16
Global refining capacity shortages added 10% to margins 2024
17
Inflation raised non-crude gas costs 8% in 2023
18
EV adoption slowed demand growth to 1% annually
19
Carbon taxes in Europe add €0.20-0.50/liter to prices
20
Subsidies in Middle East keep prices under $1/gal equivalent
21
US gasoline inventories at 230mb Oct 2024 influence spot prices
22
Exchange rates: Strong USD lowers import gas costs 5%
Interpretation
Factors Influencing Prices Interpretation
While a volatile crude oil market sets the stage, the final price we curse at the pump is a complex cocktail of geopolitics, refining struggles, taxes frozen in time, and even the weather, proving we're paying for far more than just the oil itself.
02 · Category
Future Projections22 stats
01
EIA forecasts US gas at $3.45/gal average 2025 from crude $75/bl
02
Short-Term Energy Outlook predicts $3.20/gal US 2024 annual average
03
IEA Oil Market Report Oct 2024 sees global oil $75/bl 2025
04
OPEC projects demand growth 1.2mb/d 2025 pushing prices up
05
GasBuddy predicts US Thanksgiving 2024 gas at $3.10/gal national
06
BloombergNEF forecasts $70/bl WTI average 2025 with supply glut
07
US DOE Annual Energy Outlook 2024 sees gas $3.50/gal by 2030
08
Goldman Sachs predicts Brent $75/bl 2025 amid non-OPEC supply
09
JP Morgan forecasts US gas under $3/gal winter 2024-25
10
Wood Mackenzie sees peak oil demand 2028 stabilizing prices
11
IEA Stated Policies Scenario: oil $60/bl by 2030, gas follows
12
Rystad Energy predicts $80/bl Brent 2025 from geopolitics
13
US gasoline consumption to fall 0.5% in 2025 per EIA
14
Global gas demand peaks 2026 at 102mb/d per IEA
15
California gas projected $5.00/gal average 2025 from taxes
16
National average Christmas 2024 gas $3.05/gal per GasBuddy
17
Long-term: US gas $4.00/gal by 2035 inflation-adjusted
18
Europe petrol €1.80/liter 2025 with ETS carbon pricing
19
China gasoline steady ¥7.5/liter 2025 with controls
20
India petrol to ₹105/liter 2025 from duties
21
Brent to average $73/bl Q4 2024 per EIA
22
US retail gas falls to $2.90/gal by Dec 2024 per forecast
Interpretation
Future Projections Interpretation
Despite the cacophony of forecasters, it seems the only certainty is that while we argue over pennies per gallon this year, the long-term outlook suggests we'll be nostalgically reminiscing about the days of three-dollar gas.
03 · Category
Global Prices27 stats
01
As of Oct 2024, Hong Kong has the highest global gas price at $2.98per liter
02
Central African Republic averages $1.45per liter gasoline in Oct 2024
03
US gasoline price averages $0.85per liter globally in Oct 2024
04
Netherlands gas at $2.15per liter in Oct 2024, highest in Europe
05
Venezuela lowest at $0.035per liter gasoline Oct 2024 due to subsidies
06
UK average petrol price £1.45 per liter ($1.85USD) Oct 2024
07
Germany gasoline €1.85 per liter ($2.00USD) in Oct 2024
08
France averages €1.90 per liter ($2.05) Oct 2024
09
Italy gas €1.92 per liter ($2.07) Oct 2024
10
Spain petrol €1.70 per liter ($1.83) Oct 2024
11
Canada gasoline averages CAD 1.65 per liter ($1.20USD) Oct 2024
12
Australia petrol AUD 1.85 per liter ($1.23USD) Oct 2024
13
Japan gasoline ¥172 per liter ($1.15USD) Oct 2024
14
India petrol ₹95 per liter ($1.13USD) Oct 2024
15
Brazil gasoline R$5.60per liter ($1.00 USD) Oct 2024
16
South Africa petrol R23 per liter ($1.30USD) Oct 2024
17
Saudi Arabia gasoline SAR 2.33 per liter ($0.62USD) Oct 2024
18
Russia averages RUB 65 per liter ($0.65USD) Oct 2024
19
China gasoline CNY 8.0 per liter ($1.13USD) Oct 2024
20
Mexico petrol MXN 25 per liter ($1.25USD) Oct 2024
21
UAE gasoline AED 3.0 per liter ($0.82USD) Oct 2024
22
Iran lowest subsidized at IRR 3000 per liter ($0.07USD) Oct 2024
23
Denmark highest Europe at DKK 15.5 per liter ($2.25USD) Oct 2024
24
Sweden gasoline SEK 20 per liter ($1.90USD) Oct 2024
25
Norway petrol NOK 21 per liter ($1.95USD) Oct 2024
26
Finland averages €1.95 per liter ($2.10) Oct 2024
27
Global average gasoline price Oct 2024 is $1.25per liter
Interpretation
Global Prices Interpretation
The world's gas prices paint a map of economic reality, from the painful pump of Hong Kong to the subsidized fantasy of Venezuela, proving that the cost of a liter is less about crude oil and more about a country's priorities, politics, and pain tolerance.
More related reading
04 · Category
Historical US Prices30 stats
01
In 1929, the average price of gasoline in the US was $0.21per gallon in nominal dollars
02
During 1945, US retail gasoline averaged $0.21per gallon nominally, reflecting post-WWII stability
03
In 1970, the US average gas price reached $0.36per gallon nominally amid rising demand
04
1979 saw US gas prices average $0.86per gallon nominally due to the oil crisis
05
By 1980, nominal US gas price hit $1.19per gallon from Iranian Revolution impacts
06
In 1990, US average gasoline price was $1.15per gallon nominally post-Gulf War
07
2000 US nominal gas average was $1.51per gallon with growing SUV popularity
08
Peak 2008 nominal US gas price averaged $3.27per gallon amid financial crisis
09
In 2011, US gas averaged $3.53per gallon nominally due to Arab Spring
10
2012 saw US nominal average of $3.63per gallon from high crude prices
11
By 2013, US gas price dipped to $3.53per gallon nominally
12
2014 US average was $3.37per gallon nominally with shale boom
13
In 2015, nominal US gas averaged $2.43per gallon from oil glut
14
2016 US nominal average fell to $2.14per gallon amid oversupply
15
2017 saw US gas at $2.42per gallon nominally with production rise
16
2018 nominal US average was $2.72per gallon from trade tensions
17
In 2019, US gas averaged $2.60per gallon nominally pre-COVID
18
2020 nominal US average dropped to $2.17per gallon due to pandemic demand crash
19
2021 saw US gas rise to $3.02per gallon nominally from recovery
20
In 2022, US nominal average hit $3.95per gallon amid Ukraine war
21
Adjusted for inflation to 2023 dollars, 1929 US gas price was $3.70per gallon
22
Inflation-adjusted 1974 US gas peaked at $5.14per gallon in 2023 dollars
23
1980 inflation-adjusted US gas was $4.40per gallon in 2023 dollars
24
2008 peak inflation-adjusted was $4.60per gallon in 2023 dollars
25
Lowest inflation-adjusted US gas was 1998 at $1.87per gallon in 2023 dollars
26
Weekly US regular gas average on Jan 1, 2023 was $3.31per gallon
27
On July 17, 2022, US weekly gas average peaked at $5.016per gallon
28
Dec 25, 2023 US weekly gas was $3.08per gallon
29
In Q1 2023, US diesel averaged $5.20per gallon weekly
30
1930s US gas prices averaged under $0.20nominal amid Depression
Interpretation
Historical US Prices Interpretation
So while our nominal gas prices seem to have staged a rather dramatic escape from the dime store over the last century, the sobering, inflation-adjusted reality is that we've mostly just been paying a consistent, geopolitical anxiety tax to keep the tank full.
05 · Category
US State Prices30 stats
01
As of October 7, 2024, California average gas price is $4.85per gallon for regular
02
Hawaii's average regular gas price on Oct 7, 2024 stands at $4.65per gallon
03
Washington state gas averages $4.55per gallon regular on Oct 7, 2024
04
Nevada average regular gas is $4.25per gallon as of Oct 7, 2024
05
Oregon gas averages $4.20per gallon regular on Oct 7, 2024
06
Alaska's regular gas average is $4.15per gallon Oct 7, 2024
07
New York state average regular gas $3.45per gallon Oct 7, 2024
08
Florida average regular $3.15per gallon as of Oct 7, 2024
09
Texas gas averages $2.95per gallon regular Oct 7, 2024
10
Mississippi lowest at $2.75per gallon regular Oct 7, 2024
11
Oklahoma average $2.80per gallon regular Oct 7, 2024
12
Georgia state gas $3.05per gallon regular Oct 7, 2024
13
Illinois average regular $3.40per gallon Oct 7, 2024
14
Pennsylvania gas $3.35per gallon regular Oct 7, 2024
15
Michigan average $3.30per gallon regular Oct 7, 2024
16
Ohio state gas $3.15per gallon regular Oct 7, 2024
17
Indiana average regular $3.10per gallon Oct 7, 2024
18
Kentucky gas $2.95per gallon regular Oct 7, 2024
19
Tennessee average $2.90per gallon regular Oct 7, 2024
20
Alabama state gas $2.85per gallon regular Oct 7, 2024
21
Louisiana average regular $2.90per gallon Oct 7, 2024
22
Arkansas gas $2.88per gallon regular Oct 7, 2024
23
Missouri average $2.95per gallon regular Oct 7, 2024
24
Iowa state gas $3.05per gallon regular Oct 7, 2024
25
Nebraska average regular $3.10per gallon Oct 7, 2024
26
Kansas gas $2.98per gallon regular Oct 7, 2024
27
North Dakota average $3.20per gallon regular Oct 7, 2024
28
South Dakota gas $3.15per gallon regular Oct 7, 2024
29
Wyoming average regular $3.40per gallon Oct 7, 2024
30
US national average regular gas price as of Oct 7, 2024 is $3.15per gallon
Interpretation
US State Prices Interpretation
It's oddly cheaper to fuel a cross-country road trip than it is to simply commute down the Pacific Coast, as California's $4.85 premium drags the national average up like an anchor while Mississippi happily floats at $2.75.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Felix Zimmermann. (2026, February 13). Gas Prices Statistics. Gitnux. https://gitnux.org/gas-prices-statistics
MLA
Felix Zimmermann. "Gas Prices Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gas-prices-statistics.
Chicago
Felix Zimmermann. 2026. "Gas Prices Statistics." Gitnux. https://gitnux.org/gas-prices-statistics.
Sources & references
18 datasets cited across this report · attribution is report-level