Universal History Archive/Universal Images Group // Getty Images How gas prices have changed in Los Angeles since the 70s It wasn’t that long ago, 1999 in fact, that a gallon of regular gasoline cost less than $1. And that price was much more common through the 1980s. More recently, of course, prices have been higher than $1. But when adjusted for inflation, the median price of gas when Jimmy Carter was president was just over $3 per gallon in 2023 dollars. Back then, in 1978, the price at the pump was about 65 cents—which equates to roughly $3.09 today. Gasoline has been the lifeblood of the nation’s work and social lives since the automobile became widely adopted in the mid-1900s.
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