Average US Gas Prices + Houston and Los Angeles: 2011-2021

Share on twitter
Share on linkedin

Gas prices are on the rise in the US in recent months, but using data from GasBuddy the average price of a gallon of gasoline is still within the range of average prices the last 6 or so years. And prices both nationally and in two extreme markets – Houston and Los Angeles – are well below the highs of the last few years and from 2011-2014.

Why does the price of gas matter? I’ve conducted two regression analysis projects in 2017 and 2019 and in both cases the price of gas had the highest correlation with the EV sales share by US states. It remains unclear how much of this relationship is causation versus correlation. But I firmly believe that when gas prices get very high it increases the likelihood that consumers will consider a more fuel-efficient vehicle – whether one with better MPG, a hybrid, or electric (BEV and PHEV). In California, where I’ve lived my entire life, I believe gas prices need to reach about $4 per gallon to significantly change consumer behavior.

RECENT ARTICLES:

Toyota-US-Q1-sales-2021-Forecast-by-Powertrain

Toyota’s US Hybrid Vehicle Sales Could Account for 23% of Total Sales in 2021

While we wait for the Toyota bZ4X BEV in 2022 and fingers crossed for more RAV4 Prime PHEVs being sent to the US, Toyota USA is crushing it with sales of its regular hybrids. Our current EVAdoption forecast has regular hybrids accounting for ~23.3% of 2021 sales (Toyota brand only, not including Lexus.)

Leave a Reply

Your email address will not be published. Required fields are marked *