Here’s a list of average gas prices in the USA since 1978 when Jimmy Carter was president. The list shows the average price of gas each year and who was president at the time along with their political party. See if you think there is any correlation between gas prices, presidents, democrats and republicans.
Year > Gas Price > Political Party (President)
- IRAN REVOLUTION
- 1978 > $0.65 > Democrat (Carter)
- 1979 > $0.88 > Democrat (Carter)
- SOVIETS INVADE AFGANISTAN
- 1980 > $1.22 > Democrat (Carter)
- IRAN/IRAQ WAR
- 1981 > $1.35 > Democrat (Carter)
- 1982 > $1.28 > Republican (Reagan)
- 1983 > $1.23 > Republican (Reagan)
- 1984 > $1.20 > Republican (Reagan)
- 1985 > $1.20 > Republican (Reagan)
- 1986 > $0.93 > Republican (Reagan)
- 1987 > $0.96 > Republican (Reagan)
- 1988 > $0.96 > Republican (Reagan)
- 1989 > $1.06 > Republican (Reagan)
- FALL OF BERLIN WALL
- 1990 > $1.22 > Republican (Bush)
- 1991 > $1.20 > Republican (Bush)
- COLLAPSE OF SOVIET UNION
- 1992 > $1.19 > Republican (Bush)
- 1993 > $1.17 > Republican (Bush)
- 1994 > $1.17 > Democrat (Clinton)
- 1995 > $1.21 > Democrat (Clinton)
- 1996 > $1.29 > Democrat (Clinton)
- 1997 > $1.29 > Democrat (Clinton)
- 1998 > $1.12 > Democrat (Clinton)
- 1999 > $1.22 > Democrat (Clinton)
- 2000 > $1.56 > Democrat (Clinton)
- 2001 > $1.53 > Democrat (Clinton)
- WORLD TRADE CENTER ATTACK
- 2002 > $1.44 > Republican (Bush Jr.)
- 2003 > $1.64 > Republican (Bush Jr.)
- UNITED STATES INVADES IRAQ
- 2004 > $1.92 > Republican (Bush Jr.)
- 2005 > $2.34 > Republican (Bush Jr.)
- 2006 > $2.64 > Republican (Bush Jr.)
- 2007 > $2.85 > Republican (Bush Jr.)
- 2008 > $3.32 > Republican (Bush Jr.)
- USA STOCK MARKET CRASH
- 2009 > $2.40 > Republican (Bush Jr.)
- 2010 > $2.84 > Democrat (Obama)
- 2011 > $3.58 > Democrat (Obama)
- 2012 > $3.70 > Democrat (Obama)
- 2013 > $3.58 > Democrat (Obama)
- 2014 > $3.43 > Democrat (Obama)
- 2015 > $2.51 > Democrat (Obama)
- 2016 > $2.20 > Democrat (Obama)
- 2017 > $2.47 > Democrat (Obama)
- 2018 > $2.79 > Republican (Trump)
- 2019 > $2.70 > Republican (Trump)
- COVID19
- 2020 > $2.24 > Republican (Trump)
- 2021 > $3.13 > Republican (Trump)
- 2022 > $4.50 > Democrat (Biden)
- RUSSIA INVADES UKRAINE
- 2023 > $3.63 > Democrat (Biden)
- 2024 > $3.42 > Democrat (Biden)
- 2025 > $3.22 > Democrat (Biden)
- U.S.-ISRAEL-IRAN CONFLICT
- 2026 > $4.09 > Republican (Trump)*
Summary of Data Points & Global Events
- 2001 – World Trade Center Attack: Following the 9/11 attacks, prices initially saw volatility but remained relatively low ($1.53) compared to later years as the global economy processed the shock and travel decreased.
- 2003 – United States Invades Iraq: The onset of the Iraq War signaled the beginning of a long-term upward trend in fuel prices. Concerns over Middle Eastern oil stability pushed prices from $1.64 toward the $2.00 mark.
- 2008 – USA Stock Market Crash: Prices hit a then-record high of $3.32 before the financial crisis took full hold. The subsequent Great Recession led to a sharp drop in demand, reflected in the 2009 dip to $2.40.
- 2020 – COVID-19 & Political Turmoil: The global pandemic caused an unprecedented collapse in travel and oil demand, bottoming prices out at an annual average of $2.24.
- 2022 – Russia Invades Ukraine: The invasion in February 2022 led to immediate sanctions on Russian energy and a massive spike in global oil prices. This resulted in the 2022 average of $4.50, the highest in the dataset.
- 2023–2024 – Red Sea Shipping Crisis: Attacks on commercial vessels in the Bab el-Mandeb Strait forced tankers to take longer routes around Africa. While U.S. domestic production kept annual averages lower than 2022 ($3.63 and $3.42), these events caused persistent localized price fluctuations.
- 2026 – U.S.-Israel-Iran Conflict: The most recent data from March 2026 shows a sharp escalation in prices (reaching $4.09). This spike is attributed to direct military engagements in the Middle East, sparking fears of a total blockade of the Strait of Hormuz, through which a fifth of the world’s oil passes.