The Gas Pump Index
U.S. regular unleaded gasoline, annual average price per gallon
Then
2020
$2.19/gal
Now
2025
$3.22/gal
Change
2020–2025
+47%
↑ Rising
The Gas Pump Index: 2015–2025
U.S. regular unleaded gasoline, annual average price per gallon
Source: U.S. Energy Information Administration (EIA)
Historical Data
| Year | Price | YoY Change |
|---|---|---|
| 2015 | $2.43 | — |
| 2016 | $2.14 | -11.9% |
| 2017 | $2.42 | +13.1% |
| 2018 | $2.72 | +12.4% |
| 2019 | $2.60 | -4.4% |
| 2020 | $2.19 | -15.8% |
| 2021 | $3.01 | +37.4% |
| 2022 | $3.95 | +31.2% |
| 2023 | $3.52 | -10.9% |
| 2024 | $3.36 | -4.5% |
| 2025 | $3.22 | -4.2% |
Analysis
Gas prices are the most emotionally charged inflation indicator. Nothing shapes consumer sentiment quite like the number on the gas station sign. The Gas Pump Index shows why: from pandemic lows of $2.19/gallon in 2020 to a painful $3.95 average in 2022 (peaking at $5.02 nationally in June 2022), the swing was brutal and visible.
The good news: the correction has been real. Prices have gradually eased from the 2022 peak, settling around $3.22/gallon in 2025. That's still above the $2.50-$2.70 range of 2017-2019, but the trend is clearly downward from the crisis peak.
Three structural factors are keeping gas relatively stable: record U.S. domestic oil production (exceeding 13 million barrels/day), tepid global demand growth as China's economy slowed, and the early stages of EV adoption reducing marginal gasoline demand. OPEC production cuts have prevented a sharper decline.
The vulnerability remains geopolitical. A Middle East escalation or Gulf Coast hurricane could spike prices quickly. But barring external shocks, gas is one of the more stable categories in the current inflation landscape.