How much was a gallon of gas in 2008?
| Year | Jan | Feb |
|---|---|---|
| 2008 | 3.095 | 3.078 |
| 2009 | 1.840 | 1.975 |
| 2010 | 2.769 | 2.699 |
| 2011 | 3.148 | 3.264 |
Why was gas prices so high in 2008?
In June 2008 U.S. energy secretary Samuel Bodman said that insufficient oil production, not financial speculation, was driving rising crude prices. He said that oil production had not kept pace with growing demand.
How much was gas in Texas 2009?
The economy in 2009 played a major role in dictating gas price levels, according to a report released by AAA Texas on Wednesday. Gas prices in Texas are currently at $2.47 per gallon, which is a dollar higher than they were in the state on Dec.
What were gas prices in Houston in 2008?
The record high price for regular in Houston was $3.96 on July 17, 2008, during a summer in which the price of U.S. benchmark crude hit a record $145 a barrel on July 3. High fuel prices became an issue in the 2008 presidential election.
Why did gas prices drop in 2008?
2 The lower price for oil and gas due to the financial crisis was the major impact on the sector. Energy prices thus fell due to diminishing demand, a contraction of credit with which to make purchases, and lower corporate earnings which led to layoffs and increased unemployment.
When was gas $4 a gallon in Texas?
The price for a gallon of gasoline hit the $4 mark Monday in El Paso.
What was the highest gas prices in Texas in 2008?
It’s the highest price since 2008 when a record was reached at $4.11. On Sunday, the average for Texas was at $3.66 a gallon, according to AAA. The record for Texas was $3.98 in July 2008. GasBuddy has released a new outlook, predicting a new record with prices continuing to rise through summer.
Why was gas prices so high in 2009?
Last year, gas prices were driven higher by a an unprecedented rise in the price of crude oil, which is the main ingredient in gasoline. Oil prices settled at a record $145.29 a barrel one day before the price of gas hit its all-time high.