Chart Of Gas Prices Over The Last 20 Years
Gas prices have always been a topic of concern for people across the globe. The fluctuation in the price of gas has a direct impact on the economy of a country. In this article, we will discuss the chart of gas prices over the last 20 years.
1999-2003
In the year 1999, the average price of gas was around $1.17 per gallon. The prices remained stable for the next couple of years. However, in 2002, the prices started to increase due to the rise in demand for gas. By the end of 2003, the price of gas had risen to $1.75 per gallon.
2004-2008
The year 2004 saw a significant increase in gas prices due to the Iraq war. The prices continued to rise until 2008, where the average price of gas was $3.25 per gallon. The financial crisis of 2008 led to a decline in the demand for gas, which resulted in a decrease in prices.
2009-2013
In the year 2009, the average price of gas was $2.35 per gallon. The prices remained stable until 2011, where they started to increase again due to the unrest in the Middle East. By the end of 2013, the price of gas had risen to $3.50 per gallon.
2014-2018
The year 2014 saw a decline in gas prices due to the increase in domestic oil production. The prices continued to decrease until 2016, where the average price of gas was $2.25 per gallon. However, the prices started to increase again in 2017 due to the hurricane season and the increase in demand for gas. By the end of 2018, the price of gas had risen to $2.85 per gallon.
2019-2020
In the year 2019, the average price of gas was $2.50 per gallon. The prices remained stable until the COVID-19 pandemic hit the world in 2020. The decrease in demand for gas led to a significant decline in prices. By the end of 2020, the price of gas had fallen to $1.80 per gallon.
Conclusion
The chart of gas prices over the last 20 years clearly shows the fluctuation in prices due to various factors such as wars, natural disasters, and pandemics. The prices have always been a concern for people across the world and have a direct impact on the economy of a country. It is essential to keep track of gas prices and take necessary measures to ensure stability in the economy.