Gas prices have hit an all-time low, but that doesn’t mean you should break the bank at the pump. Although the cost of gas has decreased, so has the value of your dollar. Unfortunately, when the value of the dollar decreases, the cost of everything, including gas, increases. You may wonder how much gas is actually worth at the Speedway gas station. That is the question we will answer in this article. We will discuss the current prices of gas and how much they have decreased since before the pandemic in February 2020.
The Current Gas Price Trend
The past few months have seen the price of gas decrease significantly. In 2019, the average price of a gallon of regular gas was $2.83, which is equivalent to $3.64 per liter. At the time, that was a 16% decrease compared to the year before. In fact, the last three months of 2019 were the cheapest the gas prices have been in 20 years. In 2020, as the value of the dollar continues to decrease, those same prices have risen. The average price of gas today is $3.59 per gallon, or $4.34 per liter, which is a 19% increase compared to the same period in 2019. This rise is largely due to the fact that there are more people driving, which means there are more people using fuel and causing the prices to rise. This doesn’t mean you should rush out to buy a gas guzzler, as there are still solid mileage savings to be found in many different models. If you are looking for a new car, consider what fuel type it uses and how much it costs to fill up. It would be wise to keep an eye on the dollar — as long as it is still declining, prices of just about everything are likely to rise.
Has The Cost Decreased Since The Pandemic?
The pandemic really did have a lasting effect on the cost of gas. As demand for oil products dropped, so did the price of a barrel of oil, which is a measure of the cost of a gallon of gas. In the month before the pandemic in February 2020, the average price of a gallon of gas was $3.92, which is equivalent to $4.74 per liter. Since then, it has decreased significantly to $2.83, which is equivalent to $3.64 per liter. While this is a great price for gas during the pandemic, it is also a significant decrease from the $5.00 per gallon charged before the pandemic. This is why, even now, that particular price is still being cited as one of the most memorable in history. Since the return of the economy and the drop in oil prices, however, that price has begun to increase, hovering around $3.90 per gallon today. This, of course, is due to the devaluation of the dollar, but it is also the increased demand for gasoline as people get back out on the road. In fact, since the start of this year, the average price of gas has increased by 12%, climbing to $3.59 per gallon today. While this may not seem like a significant increase to people who filled up last week, those prices are already showing up in some of the costliest cities across the country. If the dollar continues to decline, expect to see even more increases in gas prices.
Do You Get What You Paid For?
People who pay more for gas don’t get more for their money. The reason they pay more is because they believe they are getting a better grade of gasoline than you are. The truth is, every grade of gasoline is made equal. The only difference is how the fuel is stored and transported, and that can vary from station to station. There is no quality control in gas stations, so when you pump your gas, you are basically trusting the gauge on the wall to tell you how much you are paying for. Believe it or not, the gauge can be faulty and give you an inaccurate reading. It is also worth noting that premium gas is simply gas that is more expensive to produce. This is usually due to higher taxes or the cost of the crude oil itself. There is no significant difference in the quality of the gasoline you get at a premium gas station compared to any other gas station. This is one of the main reasons why premium gas prices have decreased in recent months; the cost of crude oil has decreased, which has led to a decrease in the price of gas. While this is a good thing for drivers, it can also be problematic if you are looking for value for your dollar. If you are shopping for a new car, don’t be fooled by the inflated prices at the pump. Look at the true cost of ownership instead, which includes fuel economy and how much it costs to maintain.