Ronald Reagan — 40th President of the United States
40th President of the United States, Republican
Ronald Reagan
Term: Jan 20, 1981 – Jan 20, 1989
Ronald Reagan (1911–2004) was the fortieth president of the United States, serving from 1981 to 1989. He pursued major tax cuts, a significant military buildup, and Cold War diplomacy with Soviet leader Mikhail Gorbachev that contributed to the easing of superpower tensions. His administration was also marked by the Iran–Contra affair, in which administration officials secretly arranged arms sales to Iran and diverted proceeds to fund Nicaraguan rebel forces in contravention of a congressional prohibition.
“In this present crisis, government is not the solution to our problem; government is the problem.”
Gas prices during the Reagan presidency
- At inauguration
- $1.30
- Jan 1981
- On leaving
- $0.92
- Jan 1989
- Change
- −29.3%
- −49.2% in 2026 dollars
- Average
- $1.14
- $3.71 in 2026 dollars
- Peak
- $1.42
- Mar 1981
- Low
- $0.82
- Nov 1986
U.S. average, regular grade · Jan 1981 – Dec 1988
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
- 1979 oil crisis
Oil shock · Prices rose · Jan 1981 – Mar 1981
During this term: pump price $1.30 → $1.42 (+9.2%)
- 1986 oil price collapse
Oil shock · Prices fell · Nov 1985 – Jul 1986
During this term: pump price $1.21 → $0.89 (−26.3%)