Gas prices have been a constant source of frustration for drivers across the country. Even small trips to the pump can feel like a strain on the wallet, with national averages for a gallon holding around $3 and change, and $4.63 on the high end (mostly on the West Coast). For many, filling up a tank has gone from a routine errand to a stressful calculation, as prices fluctuate week to week. How Much Did Gas Cost in the 90s? In a viral video sweeping Facebook, actor and comedian Kevin Fredericks (@KevOnStage) lamented the gas prices from the late 90s. Sporting a pair of black sunglasses, Fredericks sings, “I'm talking to you baby, I miss you, I'm talking to you baby, I miss you." Behind him is a green-screened backdrop of a tweet showing what a gallon of fuel cost in 1998: Unleaded: 89 cents Unleaded plus: 94 cents Premium unleaded: 99 cents Diesel: 95 cents Gas prices were right around those numbers back in the late 90s. In 1998 a gallon of gas, on average, cost $1.12, CNBC reported. FROM THE TRENDING NEWS DESK Viral bits from across the social media landscape Our team of experts tracks what's trending so you don't have to—from viral videos to online debates that have everyone talking. Adjusted for inflation, that’s only $2.21. Why Are Gas Prices So High Now? While pump prices have been relatively stable this summer, they remain noticeably higher than they were before the pandemic. A combination of global events and market factors has kept gas prices up, NerdWallet reported. Oil prices, which make up more than half of the cost of a gallon of gasoline, spiked in 2021 and 2022 due to pandemic-related supply shocks and Russia’s invasion of Ukraine. These events pushed the national average for regular gas from about $2.60 per gallon in 2019 to a peak of $5 in June 2022, NerdWallet reported based on AAA data. Since then, prices have gone down, but haven’t returned to pre-pandemic levels. Today, gas costs are roughly 9% higher than they were six years ago. Seasonal factors also play a role. Gasoline is switched from winter-blend to more expensive summer-blend formulas between May and mid-September, temporarily raising prices. Inflation, supply-chain disruptions, and gas tax increases add to the pressure. However, oil prices remain the main driver of pump costs. Prices at the pump reflect production and supply costs from weeks or months prior, which is why gas rarely mirrors daily oil market changes immediately. Nostalgia for the Good Ol’ Days Frederick's video has some people in their feelings. As one commented, “I don’t know whether we’re supposed to laugh or cry.” Many shared memories from how far they could get on relatively little cash in those days. “The year I got my license! With $20 I was filling up my 1992 Toyota Tercel for like $10, going to Wendy's to get a double stack, biggie fry and biggie drink for $3 and still had $7 left! Oh what a time to be outside in the 19s!” a top comment reads. “Why you do me like this? Taking me back to the 90’s with my ‘89 Honda when it only took 10 dollars to fill up,” another person said. “When I was in college and funds were low, I could put $5.00 in the tank and be good for the week. P.S.—you could also get an oil change for like $20.00! The good old days,” another wrote. “And don’t let someone give you $20 to come pick them up! That was half a tank for $10 & money for food,” a commenter added. Motor1 reached out to Fredericks for comment via email. We’ll update this if he responds.
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