Fuel Tracker

While both U.S. oil imports and production have risen, production increases have far outweighed increases in import volume, especially during the all-important early October period just after Hurricane Katrina made landfall. However, extra imports came at a critical moment – just after Hurricane Rita impacted the region, when many analysts had predicted that gasoline inventories would plummet and prices would rise even higher than they did. The U.S. average price of gasoline per gallon was $2.30 as of Nov. 14, down 8 cents from Nov. 7. The price of crude oil per barrel was $57.45 as of Nov. 11, down $3.15 from Nov. 4. The chart shows prices per gallon of gasoline in mid-November since 1995, not adjusted for inflation.