Gas prices under Ronald Reagan
Gasoline price (regular, per gallon) · Republican · Jan 20, 1981 – Jan 20, 1989
Under Ronald Reagan, the price of regular gasoline went from $1.26 in Dec 1980 to $0.93 in Dec 1988, down $0.33 (−26.1%). That is −$0.04/yr, against +$0.16/yr in the four years before. Ranked by yearly change, it is the fastest fall of the 8 completed terms since 1977.
Average US retail price of a gallon of regular unleaded gasoline (CPI average price data). In dollars of the day, not adjusted for inflation; mostly set by world oil prices. Source: Bureau of Labor Statistics, via FRED APU000074714. Monthly data, fetched Oct 19, 2026. The chart runs from four years before the term to two years after it.
Gas prices under Reagan, year by year
Highest reading during the term: $1.42 in Mar 1981. Lowest: $0.82 in Nov 1986.
| Period | Value | Change |
|---|---|---|
| Dec 1980, before inauguration | $1.26 | |
| Dec 1981 | $1.37 | +$0.11 |
| Dec 1982 | $1.26 | −$0.10 |
| Dec 1983 | $1.23 | −$0.03 |
| Dec 1984 | $1.19 | −$0.04 |
| Dec 1985 | $1.21 | +$0.01 |
| Dec 1986 | $0.82 | −$0.39 |
| Dec 1987 | $0.96 | +$0.14 |
| Dec 1988 | $0.93 | −$0.03 |
Gas prices under every president
Terms sorted by yearly change, fastest rise first, each next to the trend over the four years before it. A term's first year mostly reflects the previous administration's policies, and Congress, the Fed and the world economy move this number too. Why nothing here is a score.
| President | During term | 4 years before |
|---|---|---|
| Donald Trump (2nd term) 2025–present | $3.15 → $4.48 +$0.76/yr · through Sep 2026 | +$0.24/yr |
| Joe Biden 2021–2025 | $2.17 → $3.15 +$0.24/yr | −$0.02/yr |
| Jimmy Carter 1977–1981 | $0.63 → $1.26 +$0.16/yr | — |
| Barack Obama 2009–2017 | $1.69 → $2.23 +$0.07/yr | −$0.05/yr |
| George H. W. Bush 1989–1993 | $0.93 → $1.14 +$0.05/yr | −$0.07/yr |
| Bill Clinton 1993–2001 | $1.14 → $1.49 +$0.04/yr | +$0.05/yr |
| George W. Bush 2001–2009 | $1.49 → $1.69 +$0.02/yr | +$0.06/yr |
| Donald Trump (1st term) 2017–2021 | $2.23 → $2.17 −$0.02/yr | −$0.28/yr |
| Ronald Reagan 1981–1989 | $1.26 → $0.93 −$0.04/yr | +$0.16/yr |
Every term lined up from inauguration day on one chart · Gasoline price by president since 1980