A new gas price calculator from the Get the Facts Data Team shows how many gallons a given amount of money buys at the pump, based on the U.S. Energy Information Administration's monthly national average price of regular gasoline. Gas prices have risen sharply since the U.S. war with Iran began in February, with the average regular price at $4.36 in September. The Bureau of Labor Statistics reported that the gasoline index was up 34.2% year over year in September, and overall inflation worsened to 3.7% year over year as oil prices stayed elevated.
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- Gas price calculator shows how far your money goes
Gasoline prices have risen sharply since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 in September according to the EIA. The Get the Facts Data Team built a gas price calculator that uses the EIA's monthly national average to show how many gallons the amount you normally spend at the pump buys now compared with before this year's price changes. The BLS reported the gasoline index rose 34.2% year over year in September, and a 9.1% monthly surge in the index accounted for over half of the month's overall increase. Overall inflation worsened to 3.7% year over year last month as the ongoing U.S. war with Iran keeps oil prices elevated.
- Gas price calculator shows how far your money goes
The average price of regular gasoline in the U.S. was $4.36 in September, according to the Energy Information Administration, and the gasoline index was up 34.2% year over year. The Get the Facts team built a calculator that shows how many gallons a given amount of spending buys now compared with before, based on the EIA's monthly average prices. The gasoline index rose 9.1% in September alone, accounting for over half of the month's overall increase in consumer prices, and overall inflation reached 3.7% year over year. The article links the price rise to the U.S. war with Iran, which began in February and has kept oil prices elevated.
- Gas price calculator shows how far your money goes
Gas prices have risen sharply since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 per gallon in September according to the U.S. Energy Information Administration. The article introduces a calculator that shows how many gallons a set amount of money buys at each month's national average price, allowing comparisons with earlier periods. It notes that the gasoline index was up 34.2% year over year in September according to the Bureau of Labor Statistics, and that overall inflation rose to 3.7%.
- Iran conflict blamed for US energy shock and pressure on gas and grocery costs
The US Treasury cited Treasury Secretary Scott Bessent's view that the current price surge is an energy shock tied to the Iran conflict and that prices will fall after the conflict ends. The Bureau of Labor Statistics reported consumer prices rose 0.6% in September and 3.7% over 12 months, with energy up 20.4% and gasoline up 34.2% from a year earlier, while grocery prices fell 0.1% for the month. Core CPI rose 2.6% over the year, up from 2.4% in August, and rent rose 2.8%, so the article notes the data do not support claims that core inflation or rents are falling. Brent crude settled at $109.86 a barrel on October 16, and freight costs for one planned US-to-Japan tanker voyage equaled $40.50 per barrel. Agricultural commodity prices rose 13% in the third quarter, and the International Fund for Agricultural Development warned that disrupted fertilizer and transport could push food prices higher.
- Wholesale Inflation Is A Problem | Armstrong Economics
The Producer Price Index rose 1.3% in September, its largest monthly gain since March 2022, and is running at an annual rate of 6.3%, far above the roughly 0.6% economists expected. Wholesale energy prices jumped 10.8% and producer-level gasoline surged 20.3%, while final demand goods rose 2.6%, the largest monthly increase since the series began in 2009. Retail sales rose 0.8% in September, but excluding gasoline they increased just 0.2%. The author argues inflation has not been defeated, pointing to a 3.7% CPI reading and cost pressures spreading through the economy.
- Gas price calculator shows how far your money goes
Gas prices have sharply risen since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 in September, according to the EIA. The Get the Facts Data Team's new calculator shows how many gallons a given amount of spending buys at the pump, based on EIA's monthly national average prices. The BLS reported that the gasoline index rose 34.2% year over year in September, and its 9.1% surge accounted for over half of the monthly increase in all items. Overall inflation worsened to 3.7% year over year as the ongoing war keeps oil prices elevated.
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