Gas Prices Climb Past $4.45 a Gallon, Hitting Highest Level in Nearly Two Years
The national average for regular gasoline reached $4.45 a gallon the week of May 4, 2026 — the highest level since mid-2024 — driven by a sharp rise that began in March and has added nearly a dollar per gallon compared to a year ago.
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The national average for regular gasoline reached $4.45 a gallon the week of May 4, 2026 — the highest level since mid-2024 — driven by a sharp rise that began in March and has added nearly a dollar per gallon compared to a year ago. Editorial illustration by TheDailyGlobe.
The national average price for a gallon of regular gasoline reached $4.45 the week of May 4, 2026, according to data released by the U.S. Energy Information Administration — the highest weekly average since the summer of 2024 and nearly a dollar more per gallon than drivers paid a year ago.
The increase has been steep and rapid. As recently as late February, the national average was hovering around $2.94 a gallon. By the end of March it had climbed to $3.99, and by early April it crossed $4.10. The week of May 4 brought the sharpest single-week jump in months, pushing the average to $4.45 — a gain of roughly $1.50 per gallon in just ten weeks.
The regional picture varies sharply. California, which consistently records the highest prices in the country due to its unique fuel blend requirements and state taxes, was averaging around $5.73 a gallon. The broader West Coast — including Washington, Oregon, and Nevada — averaged $5.38. At the other end of the spectrum, Gulf Coast states including Texas, Louisiana, and Mississippi remained the most affordable region, with an average around $3.74 a gallon, though that figure too has risen significantly from earlier in the year.
The Midwest, which had been insulated from some of the earlier price pressure, saw its average climb to around $3.89 a gallon by mid-April, up from $3.28 in early March. Chicago, which often carries a premium due to its reformulated fuel requirements and local taxes, was averaging $4.35 a gallon as of mid-April — a gain of more than $1 since the start of March.
The EIA does not publish a single explanation for weekly price movements, but the agency's historical data shows that retail gasoline prices are driven primarily by the cost of crude oil, which typically accounts for roughly half of what consumers pay at the pump. Refining costs, distribution and marketing expenses, and federal and state taxes make up the remainder. When crude oil prices rise sharply — as they did in the first quarter of 2026 — retail prices tend to follow within weeks.
Diesel fuel, which powers the trucks, trains, and ships that move goods across the country, has also risen sharply. The national average for on-highway diesel was $5.61 per gallon as of mid-April 2026, up more than $2 from the same period a year earlier. Higher diesel prices tend to ripple through the broader economy, adding to the cost of freight and, eventually, the goods that consumers buy.
For American households, the increase in gasoline prices represents a meaningful addition to monthly expenses. A driver who fills a 15-gallon tank once a week is now paying roughly $22 more per fill-up than they were in late February — about $88 more per month. For households with longer commutes or multiple vehicles, the impact is proportionally larger.
The timing of the increase coincides with the traditional spring driving season, when refineries switch to summer-blend gasoline formulations that are more expensive to produce and when demand typically rises as more Americans take to the roads. Historically, prices tend to peak in late spring or early summer before easing in the fall. Whether that seasonal pattern holds in 2026 will depend in part on crude oil market conditions and refinery capacity in the months ahead.
The EIA publishes updated weekly retail gasoline and diesel price data each Monday. The next release, covering the week ending May 11, 2026, is scheduled for May 12.
Reporting note: Reporting draws on weekly retail gasoline price data published by the U.S. Energy Information Administration (EIA) on May 5, 2026, covering the week ending May 4, 2026. All price figures, regional breakdowns, and year-over-year comparisons are sourced directly from EIA's Weekly Retail Gasoline and Diesel Prices series. This article was produced with AI-assisted research and reviewed by an editor before publication.
