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Gas Prices Are High Now, but for Many Americans They Were Even Higher in the Past

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Gas Prices Are High Now, but for Many Americans They Were Even Higher in the Past

The U.S. economy is the top issue for voters in the midterm elections, and the cost of gasoline in particular is on people’s minds. Nearly three-quarters of Americans (74%) say they’re very concerned about the price of gas and energy, according to a recent Pew Research Center survey. That share is up from 60% in July and 43% in January.

Gas prices have steadily risen this year amid the U.S.-Iran military conflict. In late February, just before the first wave of attacks, the national average price of a gallon of regular unleaded gas was almost $2.80, according to data from the U.S. Energy Information Administration (EIA). It peaked in mid-May at about $4.35 per gallon, and as of Oct. 26, the average price was still $4.12 per gallon – a 47.4% increase from February.

The price of highway diesel fuel, which is used by trucks and buses, has gone up even more. It increased from $3.81 a gallon in late February to $6.35 as of Oct. 26 – a 66.8% jump.

However, this year’s price hikes are a bit less dramatic when looked at over the long term, especially after factoring in inflation. And how much you pay for gas depends a great deal on where you live and what kind of fuel you put in your tank.

We did this analysis to look at how and why gasoline and diesel fuel prices have changed over time.

Pew Research Center seeks to help the public, media and decision-makers understand important topics and issues.


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