Highest pump price ever for gasoline

AAA reports that the national average for regular is now $1.740, the highest ever.

However, in constant dollars, gasoline actually cost more from 1973 to 1985. (The price peaked at $2.75 in today’s dollar in 1981.)

Crude oil is currently about 74 cents per gallon. The wholesale price is about 40 cents more. Taxes (federal 18.4 cents, plus state/local 23.6 cents average) bring the total to $1.56. The retailer gets the remaining 18 cents a gallon.