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RSS feed source: US Energy Information Administration

In-brief analysis

January 7, 2025

The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease in U.S. retail gasoline prices, according to data from our Gasoline and Diesel Fuel Update. From the first week of 2024 through the last week, national average weekly gasoline prices decreased $0.08/gal.

The retail gasoline price was highest in 2024 during late April when it reached $3.67/gal, below last year’s high price of $3.88/gal in September 2023. The high preceded the summer driving season, when gasoline use peaks in the United States and which often sets the highest prices of the year. However, peak prices before the summer season this year reflected relatively lower

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