U.S. monthly gasoline retail prices by type 2024

U.S. gasoline prices decreased across all major grades in October 2024. Regular gasoline prices fell to an average of 3.14 U.S. dollars per gallon. In the period of consideration, gasoline prices reached their highest level in September 2023.

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. In the span of two years, average prices almost doubled.

Monthly retail price of gasoline in the United States from October 2022 to October 2024, by fuel grade (in U.S. dollars per gallon)

Characteristic	All grades all formulations retail gasoline price	Regular all formulations retail gasoline price	Regular conventional retail gasoline price	Midgrade all formulations retail gasoline price	Premium all formulations retail gasoline price
Oct '24	3.26	3.14	3.04	3.69	4.05
Sep '24	3.34	3.21	3.11	3.77	4.13
Aug '24	3.51	3.39	3.3	3.91	4.26
Jul '24	3.6	3.48	3.38	4	4.35
Jun '24	3.58	3.46	3.33	3.99	4.35
May '24	3.73	3.6	3.46	4.15	4.51
Apr '24	3.73	3.61	3.47	4.15	4.51
Mar '24	3.54	3.43	3.32	3.94	4.29
Feb '24	3.33	3.21	3.1	3.73	4.08
Jan '24	3.2	3.08	2.96	3.62	3.97
Dec '23	3.26	3.13	3.01	3.69	4.04
Nov '23	3.44	3.32	3.17	3.88	4.24
Oct '23	3.74	3.61	3.44	4.21	4.56
Sep '23	3.96	3.84	3.69	4.4	4.73
Aug '23	3.95	3.84	3.73	4.36	4.69
Jul '23	3.71	3.6	3.48	4.12	4.44
Jun '23	3.68	3.57	3.45	4.08	4.41
May '23	3.67	3.56	3.43	4.05	4.38
Apr '23	3.71	3.6	3.49	4.08	4.41
Mar '23	3.54	3.42	3.32	3.94	4.25
Feb '23	3.5	3.39	3.3	3.9	4.22
Jan '23	3.45	3.34	3.25	3.81	4.13
Dec '22	3.32	3.21	3.08	3.72	4.05
Nov '22	3.8	3.69	3.53	4.2	4.54
Oct '22	3.94	3.82	3.64	4.37	4.7