What Was the Average Price for a Gallon of Gas in 2005?


Quick Answer

The average price of a gallon of gas in 2005 stood at $2.30 in current dollars and $2.66 in constant dollars as of 2015, according to Energy.gov. Constant dollars represent the value of money from one time period compared to today?s dollar value.

Continue Reading

Full Answer

The figures show how much a gallon of gasoline costs in today?s dollars compared to the actual value in 2005. Therefore, a gallon of gas at $2.30 in 2005 would cost $2.66 in 2015, adjusted for inflation. Current prices, also known as nominal prices, represent the face value of any products, goods or services bought and sold on the open market.

Learn more about Geography

Related Questions