Gasoline prices in the United States have experienced significant fluctuations over the past three decades, with 2024 seeing an average price of 3.3 U.S. dollars per gallon. This marks a notable decrease from the record high of 3.95 U.S. dollars per gallon in 2022, yet remains considerably higher than prices seen in the early 2000s. Despite this, American consumers continue to enjoy relatively low gasoline prices compared to many other countries, with some European countries paying more than double the U.S. average. Drivers in Hawaii and California pay the most at the pump Gasoline prices vary significantly across the United States, with Hawaii and California consistently ranking as the most expensive states for this fuel. As of January 1, 2025, Hawaii's average price for regular gasoline was 4.54 U.S. dollars per gallon, nearly 1.5 dollars above the national average. California's high prices are largely attributed to its steep gasoline taxes, which reached 68.1 U.S. cents per gallon in January 2024. These taxes play a crucial role in shaping retail prices and are typically reinvested in road infrastructure, demonstrating the direct link between fuel costs and transportation development. Patterns in gasoline consumption In a global context, the United States maintains some of the lowest conventional motor fuel prices among high-income countries. This is largely due to its position as the world's largest crude oil producer, allowing it to keep retail prices comparatively low. Despite fluctuations in price, gasoline consumption in the U.S. remains robust, averaging around 8.5 million barrels per day in 2024. Consumption tends to be highest in the summer months and lowest in the winter months due to changing driving behavior.

In the second quarter of 2022, the average retail price for a gallon of regular gasoline stood at around 4.49 U.S. dollars, up from the previous quarter. A glut in oil supply between 2014 and 2016 forced down prices and led to a low average U.S. gasoline price of roughly 1.9 U.S. dollars per gallon in the first quarter. Gasoline prices fluctuated considerably between 2019 and 2020 as a result of tensions between the United States and other oil exporters, such as Iran, and stifling oil demand during the Covid-19 pandemic. The price of West Texas Intermediate briefly dipped in the negative in April 2020. Seasonal price variations
There are periodic fluctuations in gasoline prices in the United States, where the second and third quarters are typically more expensive than the rest of the year. One of the factors contributing to changing gasoline prices is a decrease in production from refineries due to maintenance work in tandem with an increase in demand, as holiday goers make road-trips. Gasoline will revert to cheaper winter-grade in September. Annual motor vehicle consumption in the United States was around 128 billion gallons as of 2020.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

This data package includes the underlying data files to replicate the data, tables, and charts presented in The influence of gasoline and food prices on consumer expectations and attitudes in the COVID era, PIIE Policy Brief 24-3.

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.

Coronavirus (COVID-19) has cast a shadow on the French economy. Due to the outbreak, France's gross domestic product forecast dropped, compared to previous studies. Impact of COVID-19 on the French energy market The negative impact we can observe on France's electricity consumption is a direct consequence of this economic crisis. The spread of the virus and implemented quarantine measures are among the causes of fuel prices decrease but not only. Indeed, a disagreement between OPEC members (notably Russia and Saudi Arabia) about introducing a production limit led to a sudden fall of crude oil prices.The fall of fuel prices As we can see, several events are responsible for the road fuel prices decrease between March and April. A cause for hope, however, can be found in a slowdown in the price's decline in France. Falling six cents between March 9th and March 16th, diesel price only dropped 0,8 cents between April 6th and March 31st. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Gasoline Price: Pereira data was reported at 16,134.000 COP/gal in 19 Mar 2025. This stayed constant from the previous number of 16,134.000 COP/gal for 18 Mar 2025. Gasoline Price: Pereira data is updated daily, averaging 9,221.000 COP/gal from Jan 2005 (Median) to 19 Mar 2025, with 7383 observations. The data reached an all-time high of 16,134.000 COP/gal in 19 Mar 2025 and a record low of 7,584.920 COP/gal in 31 Mar 2016. Gasoline Price: Pereira data remains active status in CEIC and is reported by Energy and Gas Regulation Commission. The data is categorized under Global Database’s Colombia – Table CO.P002: Gasoline Price: by City. [COVID-19-IMPACT]

In 2018, global breathing appliances imports rose 15% and totaled $1.7B.

According to Cognitive Market Research, The global neon gas market size is USD 0.251 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030.

The increased use of cryogenic applications is increasing the need for neon gas.
In the neon gas business, demand for high purity remains high.
In 2023, the automotive and transportation equipment category had the greatest revenue share of the neon gas market.
The Asia Pacific neon gas industry will continue to lead, while the North American neon gas market will grow the most rapidly until 2030.

Increased Use of Cryogenic Applications to Provide Viable Market Output

Cryogenic applications for neon include high-energy particle colliders, rocket propulsion systems, and wave meter tubes. Neon and other noble gases are useful for cryogenic applications due to their low boiling point. As a result, they are gaseous even at low temperatures. High-energy particle colliders are used in nuclear physics to investigate particles. The Higgs Boson particles were examined using the world's largest high-energy collider, the Large Hadron Collider. For most cutting-edge energy and scientific research that does not require extreme chilling, neon is often selected as a cryogenic coolant over helium. The market is being driven by the rising use of neon in cryogenic applications.

Growth of Consumer Electronics and Semiconductors Sectors to Propel Market Growth

Given its critical role in the creation of LCD screens, the neon gas industry is being propelled by the rising consumer electronics sector. Neon gas, which is required for brilliant displays in devices such as TVs and smartphones, contributes to the backlighting required for LCD technology. Furthermore, neon is used in semiconductor fabrication, which is a crucial component in the performance of electronic gadgets. As consumer demand for modern electronics rises, the increased manufacture of LCDs and semiconductors raises the demand for neon gas. This convergence of technology breakthroughs and customer demands places neon gas as a significant enabler in driving market growth.

The increasing adoption of lasers across various end-use industries is driving the Neon Gas Market

Market Dynamics of Neon Gas

Variations in Neon Production Costs to Restrict Market Growth

Neon gas is present at a low concentration in the earth's atmosphere, i.e., 18 ppm. It is created through a fractional distillation process of liquid air, accompanied by the separation of helium from the mixture. Because of this manufacturing process, the price of neon gas is both expensive and volatile. This is the primary constraint for the Neon Gas Market. Consumers prefer alternative gas due to high pricing, slowing the growth rate of the Neon Gas business.

Impact of COVID–19 on the Neon Gas Market

The COVID-19 pandemic had a mixed effect on the neon gas industry. While industrial disruptions caused a temporary drop in demand, the healthcare sector observed a rise in demand for neon gas in medical applications such as neonatal care and diagnostic equipment. Manufacturing and building slowed during lockdowns, affecting industrial gas use, notably neon. However, the revival of economic activity and the continuing need for medical applications aided in the steady recovery. The neon gas market showed resiliency, with swings influenced by pandemic-related interruptions and subsequent recoveries in specific sectors. Introduction of Neon Gas

Neon gas is an inert monoatomic gas that belongs to the group of 18 elements on the periodic chart. It has no flavor, odor, or color and is lighter than air. Neon is known in the electric area for its ability to produce light and brilliant colors, making it an extremely versatile component in the image and lighting industries. Because of neon's ability to generate incredibly penetrating lasers, it is also commonly utilized in the production of fog lights. As a result, neon gas is becoming more popular in cold-weather zones. It is also utilized in the lithography step, which is essential for the manufacture of semiconductor devices used in the automotive and electronics industries.

Gasoline Price: Pasto data was reported at 13,846.000 COP/gal in 19 Mar 2025. This stayed constant from the previous number of 13,846.000 COP/gal for 18 Mar 2025. Gasoline Price: Pasto data is updated daily, averaging 7,229.000 COP/gal from Jan 2008 (Median) to 19 Mar 2025, with 5713 observations. The data reached an all-time high of 13,846.000 COP/gal in 19 Mar 2025 and a record low of 5,484.520 COP/gal in 31 May 2015. Gasoline Price: Pasto data remains active status in CEIC and is reported by Energy and Gas Regulation Commission. The data is categorized under Global Database’s Colombia – Table CO.P002: Gasoline Price: by City. [COVID-19-IMPACT]

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.

Saudi Arabia Fuel Prices: Retail: Gasoline 91 data was reported at 2.180 SAR/l in Mar 2025. This stayed constant from the previous number of 2.180 SAR/l for Feb 2025. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data is updated monthly, averaging 2.180 SAR/l from Jul 2020 (Median) to Mar 2025, with 57 observations. The data reached an all-time high of 2.180 SAR/l in Mar 2025 and a record low of 1.290 SAR/l in Jul 2020. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

Gasoline Price: Armenia data was reported at 16,048.000 COP/gal in 19 Mar 2025. This stayed constant from the previous number of 16,048.000 COP/gal for 18 Mar 2025. Gasoline Price: Armenia data is updated daily, averaging 9,163.000 COP/gal from Dec 2005 (Median) to 19 Mar 2025, with 6287 observations. The data reached an all-time high of 16,048.000 COP/gal in 19 Mar 2025 and a record low of 7,644.920 COP/gal in 31 Mar 2016. Gasoline Price: Armenia data remains active status in CEIC and is reported by Energy and Gas Regulation Commission. The data is categorized under Global Database’s Colombia – Table CO.P002: Gasoline Price: by City. [COVID-19-IMPACT]

Argentina Average Sales Price: Natural Gas data was reported at 112,130.924 ARS/Cub Mm in Jan 2025. This records an increase from the previous number of 105,002.657 ARS/Cub Mm for Dec 2024. Argentina Average Sales Price: Natural Gas data is updated monthly, averaging 221.071 ARS/Cub Mm from Jan 1993 (Median) to Jan 2025, with 385 observations. The data reached an all-time high of 145,829.308 ARS/Cub Mm in Sep 2024 and a record low of 35.244 ARS/Cub Mm in Dec 1993. Argentina Average Sales Price: Natural Gas data remains active status in CEIC and is reported by Energy Secretariat. The data is categorized under Global Database’s Argentina – Table AR.RB005: Energy Price: by Product. Data prior 2001 refers to Average Sales Price: Natural Gas in USD/Cub Mm [COVID-19-IMPACT]

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.

Industrial gas manufacturing revenue is slated to inch upwards at a compound annual rate of 0.7% over the five years through 2024-25, reaching £1.4 billion. Manufacturers suffered from soaring costs due to a surge in natural gas prices in 2022-23, although some of the hike in costs was passed on to customers through higher prices. Before this, the COVID-19 pandemic brought about significant disruption to the numerous downstream industries that rely on industrial gases, like steel product manufacturers, cutting demand and limiting sales in 2020-21. Growing environmental concerns have allowed industrial gas manufacturers to market their gases and mixtures as greener alternatives to traditional polluting chemicals. However, demand for harmful industrial gases has fallen as regulations tighten and companies seek to lower their carbon footprint. A surge in oil and gas prices caused revenue to jump following Russia’s invasion of Ukraine, though operating profit took a hit as manufacturers struggled to recoup all of the cost increases. Revenue is slated to fall by 8.7% in 2024-25, reflecting a fall in natural gas prices and a readjustment in industrial gas sales prices. However, sales volumes are set to remain mostly flat. Industrial gas manufacturing revenue is expected to hike at a compound annual rate of 1.1% to just over £1.5 billion over the five years through 2029-30. Industrial gas manufacturers are expected to benefit from higher demand for clean gases to replace polluting chemicals as new mixtures are developed and existing gases are used in new ways. Manufacturers are also expected to reap the perks of the growing demand for hydrogen for energy production. However, reductions in the government's R&D tax relief for SMEs mean that demand for some gases from research facilities and small industrial manufacturers may drop.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility; such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and a low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Gasoline Price: Tunja data was reported at 16,219.000 COP/gal in 19 Mar 2025. This stayed constant from the previous number of 16,219.000 COP/gal for 18 Mar 2025. Gasoline Price: Tunja data is updated daily, averaging 9,272.000 COP/gal from Jan 2008 (Median) to 19 Mar 2025, with 5711 observations. The data reached an all-time high of 16,219.000 COP/gal in 19 Mar 2025 and a record low of 7,746.350 COP/gal in 31 Mar 2016. Gasoline Price: Tunja data remains active status in CEIC and is reported by Energy and Gas Regulation Commission. The data is categorized under Global Database’s Colombia – Table CO.P002: Gasoline Price: by City. [COVID-19-IMPACT]

Gasoline Price: Sincelejo data was reported at 15,809.000 COP/gal in 19 Mar 2025. This stayed constant from the previous number of 15,809.000 COP/gal for 18 Mar 2025. Gasoline Price: Sincelejo data is updated daily, averaging 9,022.000 COP/gal from Jul 2011 (Median) to 19 Mar 2025, with 4980 observations. The data reached an all-time high of 15,809.000 COP/gal in 19 Mar 2025 and a record low of 7,349.170 COP/gal in 31 Mar 2016. Gasoline Price: Sincelejo data remains active status in CEIC and is reported by Energy and Gas Regulation Commission. The data is categorized under Global Database’s Colombia – Table CO.P002: Gasoline Price: by City. [COVID-19-IMPACT]