Transportation Economic Trends
Cost of Transportation:
Cost of Fuel
This pages discusses fuel prices. Fuel prices are a cost to firms that produce transportation services. These firms embed the costs in the price they charge businesses and households. Fuel prices also are a cost to households to operate motor vehicles for their own use.
- Fuel prices—a transportation cost—rose from 2016 through 2018 before declining in 2019 through 2020.
- From 2019 to 2020, jet fuel declined the most at 38.2 percent, followed by on-highway diesel fuel and motor gasoline (all types), which declined 30.1 and 16.9 percent, respectively.
- From 2019 to 2020, states in all areas experienced a decline in motor gasoline prices (all grades and types). The U.S. average motor gasoline fuel price decreased 16.1 percent, ranging from a decrease of 13.6 percent in the Central Atlantic to 18.2 percent in the Gulf Coast.