Gas Price

Katrina strikes the Gulf Coast, disrupting oil production and refineries. The weekly U.S. gas price reaches $3.07 on September 5, 2005. Source: U.S. Energy Information Administration ↗

Oil prices peak in July 2008 and the weekly U.S. gas price hits $4.11, a record at the time, before falling to $1.61 by the end of December. Source: U.S. Energy Information Administration ↗

Global oil prices fall steeply; the weekly U.S. gas price drops from $3.71 in April 2014 to $1.72 in February 2016. Source: U.S. Energy Information Administration ↗

A national emergency is declared as the pandemic spreads; lockdowns and business closures follow. The public health emergency lasts until May 11, 2023. Gas falls below $2 a gallon in spring 2020 as travel collapses. Source: Federal Register (Proclamation 9994) ↗

EIA says the invasion contributed to rising crude oil prices; the U.S. gas price peaks at $5.01 in June 2022. Source: U.S. Energy Information Administration ↗

U.S. and Israeli strikes on Iran begin, and Iran closes the Strait of Hormuz to most shipping on March 2. EIA cites the closure as a key driver of oil prices; the weekly U.S. gas price rises from $2.94 to $4.12 by April 6. Source: U.S. Energy Information Administration ↗

Renewed attacks on shipping and energy infrastructure push oil prices back up; EIA reports gasoline averaged $4.35 a gallon in September 2026. Source: U.S. Energy Information Administration (Short-Term Energy Outlook) ↗