This week marked a discouraging milestone for American motorists. The average gas price is now on the wrong side of the $4 mark in every state in the country, an increase that coincides with the start of the busy summer driving season, which kicks off on Memorial Day weekend.
GasBuddy, which tracks fuel pricing, said prices this summer could average $4.80 per gallon from Memorial Day through Labor Day, with the possibility of all-time highs if the Strait of Hormuz remains closed for a significant portion of the summer. The national average could easily exceed $5 later this summer if the war is still going.
Prices have spiked since early March because of the war in Iran and the effective closure of the strait, through which 20% of global crude oil volumes typically flow. Prices are the highest since 2022, when Russia invaded Ukraine, but that year costs also fell sharply by the end of the summer—a development that appears unlikely to be repeated in 2026.
Georgia and Mississippi were the cheapest states on average at $4.01 for a gallon of regular unleaded on May 20, while California unsurprisingly is the highest at $6.15—the only state above the dreaded $6 threshold, according to AAA. The national average was $4.56 per gallon, up 45% from $3.14 a year ago.
