Answer: $4.11 in July 2008

Questions:

• Gas prices usually peak in the summer. In 2022, why do you think they peaked in March?
• Is gasoline something you currently spend money on? How has this price increase impacted your budget?
• What are some things you and/or your family can do to offset the higher prices of gasoline?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (USA Today):

"After rising dramatically following Russia's invasion of Ukraine, the price of gas reached a record, topping a high that had stood for nearly 14 years. As of Tuesday morning, the average national price for a gallon of regular gasoline touched $4.17, according to AAA, the highest price ever, not accounting for inflation. That was up from $4.07 on Monday and $3.61 a week earlier. 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. The cost for diesel is nearing the record of $4.84, also set in July 2008. The price for a gallon of diesel is $4.75, more than double what it was in October 2020.

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For more budgeting resources, check out the Budgeting unit page!

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Attend NGPF professional development and earn NGPF academy credits on your own schedule! NGPF On-Demand modules include Budgeting in the Gig Economy and Popular Budgeting Methods and Strategies. 

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.

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