03/30/2012
Pump It Up
Today we’ll take a look back at gasoline prices at the pump since 1991, regular grade, as gleaned from the databases of the Energy Information Administration, eia.doe.gov.
Gasoline price, regular
12/30/91…1.05
12/28/92…1.06
12/27/93…0.99
12/26/94…1.07
12/25/95…1.08
12/30/96…1.22
12/29/97…1.11
12/28/98…0.93
12/27/99…1.27
12/25/00…1.41
12/31/01…1.09
12/30/02…1.44
12/29/03…1.47
12/27/04…1.79
12/26/05…2.19
12/26/06…2.34
12/31/07…3.05
12/29/08…1.61*
12/28/09…2.60
12/27/10…3.05
12/26/11…3.25
03/26/12…3.91
*2008 was the year oil, as measured by West Texas Intermediate, WTI, peaked the first two weeks of July, 7/1/08-7/14/08, specifically, with WTI trading above $140; with a high of $147 intraday, $145 on a closing basis.
Coincidentally, the price of regular gas at the pump peaked at $4.11 on 7/7/08 and 7/14/08.
Oil then cratered as the financial crisis hit home…with WTI going all the way from $145 to $30.28 on 12/23/08…staggering. The price of regular at the pump hit a low of $1.61 on 12/29/08, as noted above, and this proved to be the exact cycle low as well.
Wall Street History will return in two weeks.
Brian Trumbore
