The average price for regular gasoline in the United States stood at 3.08 U.S. dollars per gallon on March 17, 2025. This compared to a diesel price of 3.59 U.S. dollars per gallon. Prices for gasoline and diesel decreased that week. Real price surge of 2022 and 2023 still below 2011 to 2014 prices When looking at the real price of gasoline over time, U.S. drivers had to pay notably more in the years between 2011 and 2014. The surge in prices noted throughout 2022 and partly for 2023, which followed supply constraints, was still lower in terms of real U.S. dollars. U.S. on the lower-end spectrum of worldwide motor fuel prices The U.S. has some of the lowest conventional motor fuel prices in the world. Although fuel prices are usually higher in high-income countries, the U.S. profits from its position as the world’s largest crude oil producer and can keep retail prices for oil products comparatively low. For example, among high-income countries, prices for automotive premium gasoline (RON 95) were only lower in Russia and Saudi Arabia - countries where crude oil and oil product exports are in part restricted by sanctions, thus keeping domestic supply high.

U.S. gasoline prices increased across all major grades in February 2025. Regular gasoline prices rose to an average of 3.12 U.S. dollars per gallon. In the period of consideration, gasoline prices reached their highest level in June 2022. Differences in fuel grades Fuel grades at U.S. gas stations are differentiated by octane level. 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. Bioethanol is added to gasoline in some cases to meet the renewable fuel standard. Gasoline-run engines are able to run on blends with a bioethanol percentage of up to 25 percent. Gasoline prices reach historic high Primarily a result of the Russia-Ukraine war and inflation, the annual retail price of gasoline reached a new historic high in 2022, climbing to nearly four U.S. dollars per gallon. By 2023, annual prices had decreased again slightly, reaching 2013 levels.

In February 2025, one gallon of diesel cost an average of 3.68 U.S. dollars in the United States. That was an increase compared to two months prior, which was the lowest price in the past 24-month period. Impact of crude prices on motor fuel consumer prices Diesel prices are primarily determined by the cost of crude oil. In fact, crude oil regularly accounts for around 50 percent of end consumer prices of diesel. As such, supply restrictions or weak demand outlooks influence prices at the pump. The fall in diesel prices noted in the latter half of 2024 is a reflection of lower crude prices. Diesel and gasoline price development The usage of distillate fuel oil began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly applied to commercial use only. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and, as such, tend to be used for large commercial vehicles.

Gasoline increased 0.22 USD/GAL or 10.89% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on March of 2025.

United States - US All Grades All Formulations Gas Price was 3.18400 $ per Gallon in March of 2025, according to the United States Federal Reserve. Historically, United States - US All Grades All Formulations Gas Price reached a record high of 5.10700 in June of 2022 and a record low of 0.94900 in February of 1999. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - US All Grades All Formulations Gas Price - last updated from the United States Federal Reserve on March of 2025.

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on March of 2025.

The consumption of gasoline in the United States amounted to some 8.69 million barrels per day in March 2025. In the period of consideration, gasoline consumption reached its highest four-week average in July 2024. Gasoline production and sales Despite the U.S. reporting a decrease in domestic motor gasoline refinery production in recent years, the gasoline market has been thriving, with gasoline sales across various stations in the country totaling 654 billion U.S. dollars in 2023. Meanwhile, real gasoline prices for end users climbed to around 1.4 real U.S. dollars per gallon. Gasoline vs diesel Both diesel and gasoline are derived from crude oil. Gasoline, however, undergoes a more extensive refining process, resulting in a more volatile compound compared to diesel. This characteristic accelerates the combustion of gasoline, yielding greater horsepower in practical applications. Diesel's advantage lies in its slower burn, which makes it especially fuel efficient and more favorable for heavy-duty vehicles. The average consumption of diesel fuel in the United States stood at 4.09 million barrels per day in March 2025.

The average retail price for regular, unleaded gasoline at self-service stations in Canada was 157.7 Canadian cents per liter in February 2025. This was an increase compared to the previous month. Canada's gasoline prices are generally higher than those in the United States, but lower than in many European countries. Why do gasoline prices fluctuate? Crude oil prices, along with changing levels of consumer demand, are the two main factors which directly affect retail prices of motor fuels. Prices can witness a rapid increase or decrease depending on impacts on crude oil supplies, refinery operations, or pipeline deliveries. Even if crude prices remain steady, seasonal changes in demand can still affect retail prices. As a large oil producer, Canada's motor fuel prices are closely linked to its benchmark Western Canadian Select crude oil price. Canada's fuel station industry Motor fuel is primarily sold via nearly 12,000 retail gasoline stations spread across the country. In 2022, retail sales of gasoline stations in Canada reached a new peak of 82.78 billion Canadian dollars.

The price per 1,000 liters of motor fuel in Italy recorded a slight decrease in the week ending March 16, 2025. The price of automotive fuel oil amounted to approximately 1,683 euros per 1,000 liters, whereas the price of Euro-Super 95 stood at roughly 1,782 euros per 1,000 liters. Road fuel prices in Italy peaked in 2022, following Russia's invasion of Ukraine.

Jet fuel prices in the aviation industry were at an all-time low during 2020; the lowest value recorded was in the week of May 1, 2020 at 0.46 U.S. dollars per gallon. Now that air passenger demand is improving, the rise in jet fuel prices is putting pressure on the airline industry that is trying to return to profitability.

Naphtha decreased 1.76 USD/T or 0.29% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Naphtha - values, historical data, forecasts and news - updated on March of 2025.

The United States imported an average of 147,000 barrels of petroleum per day from Russia in 2022. The U.S. Congress passed a bill banning imports from oil, gas, coal, and other energy commodities from Russia in April 2022 as a reaction to Russia’s invasion of Ukraine. Other Western countries did the same as an effort to penalize and put economic pressure on Russia. According to a survey from March 2022, 49 percent of U.S. registered voters supported the government's sanctions on Russian oil exports.

Market and price uncertainty

Even though Russia was among the leading countries for petroleum imports into the U.S., market disruptions caused by the imposed sanctions have still severely impacted U.S. average gas prices. In June 2022, gasoline prices reached a new peak of more than five U.S. dollars per gallon. By comparison, diesel prices climbed to around 5.8 U.S. dollars. With the world still grappling with the economic repercussions brought on by the pandemic, the Russia-Ukraine war added another layer of uncertainty over market development. According to a June 2022 outlook, the average global GDP growth forecast change due to the Russia-Ukraine war was a 1.44 percent decrease to the projection made before the war. Only five countries out of the 42 included in the study were forecast to have a positive GDP growth.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

As of March 10, 2025, the price of gasoline in Ghana stood at 15.76 Ghanaian cedis (GHS) per liter, corresponding to 1.02 U.S. dollar. The price of gasoline decreased by 0.2 Ghanaian cedi compared to the prices in the beginning of February 2025. Increasing petroleum consumption In December 2024, about 173,900 metric tons of gasoline were consumed in Ghana, which represented an increase in consumption compared to the same period in preceding year. Furthermore, in 2024, over 5.3 million metric tons of petroleum products were consumed in the country, of which around 340,500 metric tons were Liquefied petroleum gas (LPG) - Butane. Ghana’s oil production and trade According to latest data form 2020, 173,000 barrels of crude oil per day were produced in Ghana. In 2023, at the company level, Ghana Oil Company Limited (GOIL), one of the leading petroleum product marketing companies in Ghana, accumulated revenue from sales amounting to 12.3 billion Ghanaian cedis (GHS), roughly 796.4 million U.S. dollars. Comparatively, in the same year, Total Petroleum Ghana, also a major petroleum company in the country, registered a revenue that amounted to slightly over six billion GHS, some 3.9 billion U.S. dollars.

Heating oil price in the United States has peaked in winter 2022/23 at 4.31 U.S. dollars per gallon and has decreased ever since. Heating oil is a liquid petroleum product that is, among other things, used in residential buildings as a fuel oil in furnaces or boilers. Chemically, most heating oils are similar to motor diesel fuels and are often sold interchangeably. Forecast heating price in the U.S. The average price of heating oil in the United States in the winter of 2024/25 is expected to reach 3.44 U.S. dollars per gallon. Energy prices are projected to see a decrease this winter, because of increased production of heating fuels. The number of heating degree days, which are the days in which the average temperature is below 18 degrees Celsius (65 degrees Fahrenheit), also helps quantify the energy demand required to heat a building. What determines heating oil price? Generally, heating oil prices are collected during the heating season between October and March. In the U.S., the greatest determining factor for heating oil prices is the WTI crude oil price. Consumers can lower heating oil bills by considering when they purchase, reducing consumption, and through government assistance programs.