The U.S. national average for a gallon of regular gasoline reached $4.392 on Friday, May 1, 2026, according to AAA — the highest level recorded since July 2022. The new high reflects a roughly 25-cent jump over the past three days alone, capping a multi-week rally tied to the ongoing closure of the Strait of Hormuz and the conflict’s effect on global crude prices.
AAA spokesperson Morgan Dean called the recent move “one of the fastest run-ups in years,” noting that the price increases come during a period when AAA would typically expect upward pressure from spring travel demand even without the geopolitical shock. “Outside of the Iran conflict, summer vacation will be here before you know it. Higher demand at the pumps usually creates higher prices.”
The Midwest is leading the spike. Michigan’s state average reached $4.86 per gallon Friday morning, up 28 cents in a single week, with authorities pointing to an unrelated refinery issue in Indiana compounding the broader pass-through from crude. Patrick De Haan of GasBuddy called it “a perfect storm of circumstances, creating one of the fastest price run-ups in years.” The Chicago metropolitan area is now averaging $5.05 per gallon. Parts of California are seeing averages near $6.45.
Retail prices typically lag wholesale crude by 7 to 14 days as refiner acquisition costs work through the supply chain. With WTI having held above $100 per barrel for a sustained period and Brent above $108, the upward pressure on retail is expected to continue for at least another 1-2 weeks even if crude stabilizes. Diesel reached $6.029 per gallon nationally — near record levels and a meaningful headwind for trucking and food-distribution costs.
Some states remain notably below the national average. Oklahoma is the cheapest at roughly $3.56 per gallon, followed by Mississippi and Kansas. Texas averages around $3.73 despite hosting many of the country’s largest refineries; the gap reflects state-tax differentials more than supply differences. The full state-by-state ranking is updated daily on our U.S. gas prices dashboard.
EIA data for the week ending April 24 showed gasoline demand at 8.94 million barrels per day, up modestly from 8.81 million the previous week. Total domestic gasoline supply remains tight at 233.4 million barrels, below the five-year seasonal average. Refiner crack spreads (the spread between crude and refined product prices) remain near multi-year highs, signaling that refineries are running aggressively to supply summer-blend demand even as crude costs climb.
For state-level pricing, see our U.S. gas prices dashboard; for crude pricing, see the oil price dashboard.