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The previous high was $4.11 on July 17, 2008, according to AAA. That would come to around $5.25 today when adjusted for inflation.

Drivers are squirming as gas prices blast through levels last seen during the oil crunch of 2008. In July of 2008, U.S. oil prices hit $145 per barrel and gas prices peaked at $4.16, according to government data. With average gas prices now around $4.19, we seem to have set a new record high.

But those are nominal prices that don’t account for inflation. If you adjust for overall price changes since 2008, gas prices would have to hit $5.25 per gallon to be a new record high, in real terms.

How much oil does the US export 2021?

Net petroleum product exports will average 3.5 million b/d in 2021, and 3.9 million b/d in 2022 as global demand for petroleum products continues to increase from its recent low point in the first half of 2020.

Why are we exporting oil?

The US exports more refined petroleum products than it does crude oil. Petroleum product exports averaged 5.5 million b/d in first-half 2021, up from 5.3 million b/d in first-half 2020. Exports of petroleum products include motor gasoline, distillate, and propane exports

Does the US export more oil than we import?

How much oil does the u. s. export 2021?

Net petroleum product exports will average 3.5 million b/d in 2021, and 3.9 million b/d in 2022 as global demand for petroleum products continues to increase from its recent low point in the first half of 2020.

Complicated subject.