BTS publishes new data spotlight: Year-over-year declines in motor gasoline dampen inflation despite 2023 monthly increases

By rahmat hidayat

Monday, June 26, 2023

Having trouble viewing this email? View it as a Web page.   June 26, 2023 Contact: BTSNews@dot.gov   Year-over-year declines in motor gasoline prices dampen inflation despite motor gasoline prices rising 10% from December 2022 to May 2023   The retail price for motor gasoline reached an all-time high of $5.03 in June 2022 (Figure 1). As of May 2023, the price for motor gasoline has declined 27% from that record high and 19% below May 2022, but remains 10% above the December 2022 price. As a result, motor gasoline has not contributed to year-over-year inflation since January 2023. Consumers have faced an increase in the price of fuel in the first four months of 2023, but the percent of consumers reporting changes to their regular travel behavior has remained steady.     Want to learn more about the effect of gas price changes on consumer travel behavior? Visit our latest data spotlight!   You are subscribed to email updates from the USDOT Bureau of Transportation Statistics. Subscriber Services: Manage Preferences Questions for BTS? Contact BTS  STAY CONNECTED             U.S. Department of Transportation | 1200 New Jersey Avenue, SE | Washington DC 20590 | 855-368-4200

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