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Gas Price

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 26 Apr 2023

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Gas Price

Gas Price is the amount of money charged for a gallon of gasoline. It is a key factor in the cost of transportation and is closely monitored by governments, businesses, and consumers. Gas prices are determined by a variety of factors, including the cost of crude oil, taxes, and the cost of refining and distributing gasoline. Gas prices can vary significantly from region to region, and even from day to day.

History of Gas Price

Gas prices have been a concern for consumers since the invention of the automobile. In the early days of the automobile, gas prices were relatively low, but as the demand for gasoline increased, so did the price. In the United States, the first federal gas tax was imposed in 1932, and the federal gas tax has been increased several times since then. In addition, many states and local governments impose their own taxes on gasoline.

In recent years, the cost of crude oil has been the primary factor in determining gas prices. When the cost of crude oil rises, so does the cost of gasoline. In addition, the cost of refining and distributing gasoline can also affect gas prices. Other factors, such as taxes, can also affect the price of gasoline.

Comparison Table

Year Average Gas Price (USD)
2010 2.78
2011 3.53
2012 3.63
2013 3.51
2014 3.36
2015 2.43
2016 2.14
2017 2.41
2018 2.72
2019 2.59

Summary

Gas Price is an important factor in the cost of transportation and is closely monitored by governments, businesses, and consumers. Gas prices are determined by a variety of factors, including the cost of crude oil, taxes, and the cost of refining and distributing gasoline. For more information on gas prices, visit websites such as the U.S. Energy Information Administration, GasBuddy, and AAA.

See Also

  • Crude Oil Price
  • Gasoline Tax
  • Refining Cost
  • Distribution Cost
  • Transportation Cost
  • Fuel Economy
  • Gasoline Consumption
  • Gasoline Supply
  • Gasoline Demand
  • Gasoline Price Index

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