What was the average price of gas in 2008?

The U.S. average price of regular gasoline in 2008 was $3.25 per gallon — about $4.86 in 2025 dollars after adjusting for inflation, according to U.S. Energy Information Administration data.

How does 2008 rank for gas prices in U.S. history?

Adjusted for inflation, 2008 was the 3rd-most-expensive year for regular gasoline out of the 56 years on record (1970–2025). In raw at-the-pump dollars it ranks 8th.

Were gas prices higher in 2008 than in 2007?

Adjusted for inflation, regular gasoline was more expensive in 2008 than in 2007, up 11.9% year over year ($4.35 → $4.86 in 2025 dollars).

How high did gas prices get during 2008?

The U.S. weekly average for regular gasoline peaked at $4.11 the week of July 7, 2008 and bottomed at $1.61 the week of December 29, 2008 during 2008.

In 2008, gas averaged $3.25 nationally — $4.86 in today’s money

U.S. average · that year

$3.25

regular, at the pump in 2008

In 2025 dollars

$4.86

inflation-adjusted (CPI-U)

The average U.S. price of a gallon of regular gasoline across 2008, shown both as it was at the pump and adjusted for inflation to constant 2025 dollars.

Where it stands

How 2008 ranks in the 1970–2025 record

Adjusted for inflation

The 3rd-most-expensive year on record — the 54th-cheapest of 56 years.

At the pump (nominal)

The 8th-highest pump price on record — before adjusting for inflation.

Across the year

How U.S. prices moved through 2008

Weekly U.S. average for regular gasoline. The year’s high was $4.11 the week of July 7, 2008; the low was $1.61 the week of December 29, 2008 — a swing of 155.1%.

Weekly · 2008

Year over year

2008 vs. the years on either side

vs. prior year · 2007

+11.9%

adjusted for inflation · +16.2% at the pump

2007 averaged $2.80 ($4.35 in 2025 $)

vs. following year · 2009

+38.3%

adjusted for inflation · +38.8% at the pump

2009 averaged $2.34 ($3.52 in 2025 $)

The year in context

2008 and the record crude-oil spike and the global financial crisis

2008 coincided with the record crude-oil spike and the global financial crisis. The U.S. weekly average for regular gasoline ran from a low of $1.61 (December 29, 2008) to a high of $4.11 (July 7, 2008). Adjusted for inflation, the year’s average of $4.86 ranks 3rd-highest in the 1970–2025 record, against the all-time adjusted peak of $5.08 in 2012.

Common questions

U.S. gas prices in 2008, answered

What was the average price of gas in 2008?: The U.S. average price of regular gasoline in 2008 was $3.25 per gallon — about $4.86 in 2025 dollars after adjusting for inflation, according to U.S. Energy Information Administration data.
How does 2008 rank for gas prices in U.S. history?: Adjusted for inflation, 2008 was the 3rd-most-expensive year for regular gasoline out of the 56 years on record (1970–2025). In raw at-the-pump dollars it ranks 8th.
Were gas prices higher in 2008 than in 2007?: Adjusted for inflation, regular gasoline was more expensive in 2008 than in 2007, up 11.9% year over year ($4.35 → $4.86 in 2025 dollars).
How high did gas prices get during 2008?: The U.S. weekly average for regular gasoline peaked at $4.11 the week of July 7, 2008 and bottomed at $1.61 the week of December 29, 2008 during 2008.

Interactive

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Source: U.S. Energy Information Administration. 2008 is the average of EIA’s twelve monthly U.S. regular (all-formulations) retail prices; the weekly figures above are EIA’s weekly U.S. retail series. Inflation adjustment uses the BLS Consumer Price Index (CPI-U), constant 2025 dollars.