US Gasoline Prices

US gasoline prices remained low in the 20 cents/gallon to 50 cents/gallon from 1929 to 1974. US Cars got 10 mpg.

In 1974, gasoline prices rose from 50 cents/gallon to $1.25 per gallon in 1983. Gas prices dropped to $0.90 in 1986 and moved back up to 1.25 per gallon in 1998.

Gasoline prices rose from $1.10 in 2000 to $3.50 in 2010 and settled back to $2.50 in 2015.

US Gasoline Price per gallon from 1929 to 2018:

1930 $0.20

1974 $0.50

2000 $1.10

2005 $1.50

2010 $3.50

2015 $2.50

2018 $2.32

https://www.energy.gov/eere/vehicles/fact-915-march-7-2016-average-historical-annual-gasoline-pump-price-1929-2015

US oil production

1930 – 2.5 million barrels per day

1940 – 4 million bbd

1950 – 5.4 million bbd

1960 – 6.9 million bbd

1970 – 10 million bbd

1980 – 8.7 million bbd

1990 – 7.5 million bbd

2000 – 5.9 million bbd

2010 – 5.4 million bbd

2018 – 11.9 million bbd

US oil production is increasing and pipelines are being built.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

US Oil Imports by year

1930 – 4.5 thousand bbd

1940 – 2.0 thousand bbd

1950 – 14.6 thousand bbd

1960 – 34 thousand bbd

1970 – 46.4 thousand bbd

1977 – 211.4 thousand bbd

1980 – 174.4 thousand bbd

1990 – 174.4 thousand bbd

2000 – 280.0 thousand bbd

2010 – 263.3 thousand bbd

2018 – 237.0 thousand bbd

The US produces 12 million bbd and consumes 20 million bbd. We should see our oil imports decrease as we close the gap on oil.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMUS1&f=M

Norb Leahy, Dunwoody GA Tea Party Leader