U.S. regular gasoline prices are back near $4.50 per gallon, adding pressure for drivers as summer travel season approaches.
The latest increase comes amid renewed concerns around Iran and the Strait of Hormuz, a key oil transit chokepoint. Prices remain below the 2022 peak, when U.S. gas prices topped $5 per gallon after Russia’s invasion of Ukraine, tight supply, and recovering post-pandemic demand pushed energy markets higher.
The chart shows how these spikes compare over time, including the Great Recession, the COVID recession, the 2022 oil shock, and the latest run-up.
For consumers, this is not just an energy-market story. It is a cost-of-living story.
Data source: U.S. Energy Information Administration
Tools used: AVA Data Visualization
by sometimes-yeah-okay
3 Comments
Trump out here speedrunning a new high gas price record.
“The latest increase comes amid renewed concerns around Iran and the Strait of Hormuz, a key oil transit chokepoint. Prices remain below the 2022 peak, when U.S. gas prices topped $5 per gallon after Russia’s invasion of Ukraine, tight supply, and recovering post-pandemic demand pushed energy markets higher.”
You need to also mention the terrible deal Trump made with the Saudis and the Russians to cut oil production in April 2020. You can literally see the price of gas start to increase in your plot at that point.
Good example of why statistics are misleading. You’ll happily inflation adjust other graphs to make a point but not inflation. Adjust this one to make things look worse than they potentially are. Not saying I like four dollar gas I’m just saying we had four dollar gas 20 years ago and it was a lot more painful then than now.