Gas Prices Under George W. Bush (2001–2009)
Under George W. Bush, the U.S. average price of regular gasoline went from $1.47 to $1.85 a gallon, averaged $2.14 and peaked at $4.11 (July 7, 2008). The cards below also give each figure in 2025 dollars. These figures describe what prices were during the term — they do not measure the effect of any president’s policies.
January 22, 2001
January 19, 2009 · last week in office
Start to end
Mean over 418 weeks
Pump: July 7, 2008 · adj.: June 30, 2008
Pump: December 17, 2001 · adj.: December 17, 2001
Gas prices during G.W. Bush’s term
The national average for regular gasoline from 2001 to 2009. Toggle between the price at the pump and constant 2025 dollars.
| Year | At the pump | In 2025 $ | Weeks |
|---|---|---|---|
| 2001 | $1.42 | $2.58 | 50 |
| 2002 | $1.35 | $2.41 | 52 |
| 2003 | $1.56 | $2.73 | 52 |
| 2004 | $1.85 | $3.16 | 52 |
| 2005 | $2.27 | $3.74 | 52 |
| 2006 | $2.57 | $4.11 | 52 |
| 2007 | $2.80 | $4.34 | 53 |
| 2008 | $3.25 | $4.85 | 52 |
| 2009 | $1.77 | $2.69 | 3 |
George W. Bush, 2001–2009: from a 2001 low to the 2008 peak
The national average for regular gasoline was $1.47 in the week of January 22, 2001 and $1.85 in the week of January 19, 2009, and averaged $2.14 over the 418 weeks of George W. Bush’s two terms. The low came early: $1.06 in the week of December 17, 2001, during the recession that the National Bureau of Economic Research dates from March to November 2001.
Prices rose through the middle of the decade. Hurricane Katrina made landfall on August 29, 2005 and Hurricane Rita on September 24, shutting Gulf Coast refineries and pipelines. The national average went from $2.61 in the week of August 29 to $3.07 in the week of September 5. On September 2, 2005, the administration authorized sales and loans from the Strategic Petroleum Reserve that totaled 20.8 million barrels. The Energy Policy Act of 2005, signed August 8, created the Renewable Fuel Standard, which requires a minimum volume of renewable fuel in gasoline.
The term high was $4.11 in the week of July 7, 2008, as crude oil prices rose. Prices then fell as the recession that began in December 2007 deepened, and the national average reached $1.61 in the week of December 29, 2008. Presidents have limited control over pump prices, which follow crude oil, refining and tax conditions; the site’s explainer sets out what a president can and cannot change.
Sources: prices and high/low weeks are EIA weekly retail data (regular, all formulations) from our database; other facts are from the sources listed here.
- National Bureau of Economic Research, U.S. Business Cycle Expansions and Contractions
- Federal Trade Commission, Investigation of Gasoline Price Manipulation and Post-Katrina Gasoline Price Increases (2006)
- U.S. Department of Energy, History of SPR Releases
- U.S. EPA, Statutes for the Renewable Fuel Standard Program (Energy Policy Act of 2005)
The pump price combines the cost of crude oil, refining margins, distribution and marketing, and federal and state taxes. How each part works, and which of them federal policy reaches, is covered in the explainer on whether the President controls gas prices.
Gas prices under G.W. Bush, answered
- What was the highest gas price under George W. Bush?
- Adjusted for inflation, the most expensive gasoline reached during George W. Bush's term was $6.07 per gallon in constant 2025 dollars (June 30, 2008). The highest at-the-pump price was $4.11 (July 7, 2008). Short-term peaks generally tracked moves in the global crude oil market.
- What did gas cost when George W. Bush took office?
- At the start of the term (January 22, 2001) the U.S. average for regular gasoline was $1.47 per gallon, or $2.70 in constant 2025 dollars.
- How much did gas prices change under George W. Bush?
- From the start of the term to its end (January 19, 2009), the pump price went from $1.47 to $1.85 a gallon — a change of +$0.38 (+25.6%). Adjusted for inflation it went from $2.70 to $2.81, +4.0%.
- Did gasoline get more or less expensive under George W. Bush?
- In inflation-adjusted terms the average price rose over the term (at the pump it rose). This reflects what prices were during the term and is not a measure of any president's policies — gasoline prices are driven mainly by global oil markets, which moved for reasons largely outside any president's control.
Source: U.S. Energy Information Administration, national average retail price of regular gasoline. Figures use EIA's weekly national series; the term covers the weeks from Inauguration Day up to the successor's, so its start and end are the first and last weeks in office. Inflation adjustment uses the BLS Consumer Price Index (CPI-U), constant 2025 dollars. Party is listed as a matter of record; this page does not attribute price changes to any president or policy. How these figures are built.
Years in this term
Use this data
Download: U.S. national gas prices by year, 1970–present (CSV) · Weekly U.S. national gas prices, 2000–present (CSV).
Column definitions, coverage and every file: gas price data. Free to reuse under CC BY 4.0 with credit.
Cite as: US Gas Gauge, “Gas Prices Under George W. Bush,” usgasgauge.com/gas-prices/by-president/george-w-bush. Source data: U.S. Energy Information Administration.