Herbert Hoover — 31st President of the United States
31st President of the United States, Republican
Herbert Hoover
Term: Mar 4, 1929 – Mar 4, 1933
Herbert Hoover (1874–1964) was the thirty-first president of the United States, serving from 1929 to 1933. The Wall Street Crash of October 1929 occurred seven months into his term, triggering the Great Depression — the most severe economic downturn in modern U.S. history. Unemployment rose sharply throughout his presidency; his administration's response, which prioritized voluntary action and avoided direct federal relief to individuals, was widely criticized as insufficient. He was defeated by Franklin D. Roosevelt in the 1932 election. Before the presidency he had served as Secretary of Commerce and directed major international food relief efforts after World War I.
“It is a dedication and consecration under God to the highest office in service of our people.”
Gas prices during the Hoover presidency
- At inauguration
- $0.21
- 1929 avg.
- On leaving
- $0.18
- 1933 avg.
- Change
- −14.3%
- +13.7% in 2026 dollars
- Average
- $0.19
- $4.09 in 2026 dollars
- Peak
- $0.21
- 1929 avg.
- Low
- $0.17
- 1931 avg.
U.S. average, regular grade · 1929 avg. – 1933 avg.
Before October 1973 only annual averages exist, so earlier months use that year's average.
Nominal U.S. national averages including taxes (EIA / BLS); regional prices vary widely. Compare all presidencies on Gas Prices by President.
Events during this term
- Onset of the Great Depression
Recession · Prices fell · 1929 avg. – 1933 avg.
During this term: pump price $0.21 → $0.18 (−14.3%)