Q:

What is the lowest price of gasoline per barrel that has been recorded historically?

A:

Quick Answer

The lowest recorded price of gasoline per barrel was $11.91 in 1998, which amounts to $17.26 with inflation to represent prices for 2015. However, it should be mentioned that in 1946, although the price of gasoline was $1.63 a barrel, inflation to reflect 2015 prices would have registered it at $19.41 a barrel.

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Full Answer

Throughout the years, gasoline has peaked and dropped significantly depending on its supply and demand. In June of 2008, barrel prices were extremely high at $91.48 a barrel, which is approximately $100.01 in 2015. In 2014, the prices ranged from a high of $97.27 in June to $68.62 in November.

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