Gas Hits $4.43, Exceeding September 2022 Levels
National average gasoline prices reached $4.43, surpassing the $3.65 recorded in September 2022.
Key points
- National average gasoline price was $4.43 on September 17, exceeding the $3.65 level from September 2022.
- The all-time record average of $5.01 per gallon was set in June 2022 during the Biden administration.
- Prices fell to $3.09 by December 2022 but have since risen again to current levels.
The national average for regular gasoline reached $4.43 per gallon on September 17. This figure exceeds the $3.65 average recorded during the same week in September 2022.
Prices are currently $1 higher than a year ago, though they remain below the all-time record of $5.01. President Trump claims prices were much higher under Biden, a statement that requires context.
Record peak occurred in 2022
Gasoline costs began 2022 at $3.28 per gallon and surpassed $4 by March. The Russian invasion of Ukraine drove a sharp rise in crude oil prices globally.
The national average hit a record high of $5.01 in June 2022. Low inventories and low refinery utilization also contributed to the significant price spike.
Prices declined by year end
The average fell to $3.09 by the end of December 2022. This level was 19 cents lower than the price at the start of the year.
The Energy Information Administration attributed the drop to increased refinery production. Lower gasoline demand also played a role in the second-half decline.
Current trends differ from prior years
Prices did not follow the typical summer peak and autumn drop pattern. Instead, costs climbed again heading into September 2026, according to Yahoo.
The current $4.43 average is significantly higher than the 2022 September baseline. This trend contrasts with the steady decline seen in the latter half of 2022.
