How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JamesStone Your Own Question
JamesStone, Analyst, Programmer, Writer
Category: General
Satisfied Customers: 195
Experience:  BA English Teaching, Data Analyst 7 Years
Type Your Question Here...
JamesStone is online now
A new question is answered every 9 seconds

What is the highest dollar amount GAS at the pump has ever

This answer was rated:

What is the highest dollar amount GAS at the pump has ever been in US History?

In what ways would a private investor, a person who owns part of the oil industry, (say they own royalties in X amount of oil wells) what are the positve effects for them as gas prices, etc inflate?
According to an article in USA Today that was published in 2005, the highest gas price was $3 per gallon in the 1980's, and we have of course seen higher values since then.

Quite honestly if you were looking for the most expensive gas station there is a place on your way out to Vegas which was outright robbery (it was probably around $4-$5/gallon and that was more than 10 years ago).

On average though, gas prices spiked at about $4.18 in July of 2008.
Interestingly enough, oil prices per barrel were right about $100/barrel at that time.

In regards XXXXX XXXXX investor, as unrest continues and oil prices continue to increase, gas prices will subsequently increase, demand for oil will also increase the amount of royalties produced by wells, and in some respects, domestically produced oil could produce an additional premium due to the relative security it brings in the production environment as well as ease of access (lower cost to transport to a refinery, less risk).
JamesStone and 38 other General Specialists are ready to help you