US gas prices are rising as the economy rebounds from the COVID-19 pandemic’s effects. A gallon of gas costs an average of $3.14 a gallon as of July 2021, according to data from the Energy Information Administration (EIA). That’s higher than the last rise in gas prices in 2018 when gas cost an average of $2.95 a gallon.
The price at the pump has bounced up and down often since the 2008 recession. The average price of a gallon of gas was as low as $2 in February 2016 during the US fracking boom and as high as $4.61 in April 2012, as the economy recovered from the Great Recession.
