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In 1958, gas prices were quite reasonable. There was no cause for worry and across the United States a gallon of gas used to cost between 13 cents and 19 cents. However, ten years down the line, things were not so rosy. Gas prices had increased and by 1978 people were paying between 48 cents and 63 cents for a gallon.
It is believed that the 1980s saw a sudden upsurge in gas price because suddenly a gallon of gas was costing 80 cents. The 80s are believed to be the most expensive time for gas in the history of gas prices. But people had not seen 1998. In 1998, the price of gas still increased further and now to get a gallon of gas, people had to pay $1. This created a lot of stir but there was nothing anyone could do.
Now in 2008, for most people $1 a gallon would be welcome respite. Today the same gallon costs more than $4. In May 2008, a gallon of gas in the United States touches $4 for the very first time in the history of gas prices.
History of gas prices is a powerful indicator of future trends. Gas market professionals use price history of gas to gain valuable information into the gas market. All good professionals make a comparison of today’s scenario with historical situations, throw in certain factors and then determine which direction the gas price will move.
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One of the reasons why gas prices go up is because buyers and sellers bid up prices supplies get close to demand. At the moment gas prices are so high that one had not even imagined that they would have to $4 for a gallon. 
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