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Monthly retail price of gasoline in the United States 2021

Gasoline prices in the United States of all grades followed similar trends between January 2019 and February 2021, reaching a trough in April 2020 at an average of 1.95 U.S. dollars per gallon. The continuous inexpensiveness of fuel between March and May 2020 is attributed to low demand amid the coronavirus pandemic.

Impact of Covid-19 on fuel prices

The cost of gasoline in the United States is dictated by the supply and cost of light crude oil. As crude oil demand halted due to the Covid-19 pandemic, oil prices plummeted, making gasoline in the U.S. its cheapest in nearly 20 years. In April 2020, gasoline demand in the United States was half of what it was in April 2019.

Differences in fuel grades

Fuel grades at U.S. gas stations are differentiated by the octane level of the gasoline. Higher grade fuels have higher octane levels, meaning that the fuel can be compressed more in the engine. This enables high-performance engines to create more power. Fuel may also vary from state to state and pump to pump. Some cities also have regulations on gasoline in order to improve air quality. Bio-ethanol is added to gasoline in some cases to meet the renewable fuel standard. The content of bio-ethanol is not regulated but can be around 10 percent.

Monthly retail price of gasoline in the United States from January 2019 to February 2021, by type

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Source

Release date

2021

Region

United States

Survey time period

January 2019 August February 2021

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Statistics on "Oil and gasoline prices"

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