Readers ask: What Was The Price Of Gas In 2009?

Supporting Information

Year Retail Gasoline Price (Current dollars/gallon) Retail Gasoline Price (Constant 2015 dollars/gallon)
2009 2.35 2.58
2010 2.79 3.02
2011 3.53 3.75
2012 3.64 3.80

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What was the highest gas price in 2009?

Gas prices have fallen for 26 days in a row after climbing to $2.693, the highest level of 2009, on June 21.

Why did gas prices drop in 2009?

Oil prices fell from a high of $133.88 in June 2008 to a low of $39.09 in February 2009. Energy prices thus fell due to diminishing demand, a contraction of credit with which to make purchases, and lower corporate earnings which led to layoffs and increased unemployment.

When was the last time gas was over $4?

The last time California gasoline reached these levels was November 2019, AAA data showed. The increase follows the introduction of more expensive summer-specification gasoline to the market, and even higher prices could be ahead with the boost in summer travel starting with the U.S. Memorial Day holiday.

Why was gas so expensive in 2008?

In June 2008 U.S. energy secretary Samuel Bodman said that insufficient oil production, not financial speculation, was driving rising crude prices. He said that oil production had not kept pace with growing demand.

Why was oil so expensive in 2008?

Whereas previous oil price shocks were primarily caused by physical disrup- tions of supply, the price run-up of 2007–08 was caused by strong demand confronting stagnating world production.

What will the price of oil be in 2021?

(13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA).