The national average price for regular gas increased for the fifth consecutive day on Thursday to $4.564 per gallon, setting a new record high price for 2026, according to data from AAA. The previous high for 2026 was $4.56, set earlier this month. Thursday’s new high for the year comes a day before the beginning of the Memorial Day Weekend holiday, as many people head to their Memorial Day Weekend destinations beginning Friday afternoon. Memorial Day Weekend is traditionally recognized as the start of the summer driving season and the onset of subsequent gas price increases.Gas prices are expected to keep trending upward as the war with Iran continues and the Strait of Hormuz remains closed, a vital waterway for the transportation of the world’s oil supply, located in the Middle East between the Persian Gulf and the Gulf of Oman. The military conflict with Iran has driven gas prices up from $2.98 per gallon on Feb. 28, when Operation Epic Fury began.
Over the last month, the average price of a gallon of gas in the U.S. has increased by more than 54 cents, rising from $4.022 to $4.564. Earlier in May, fuel costs rose by more than 30 cents per gallon in a week, pushing the national average from $4.176 to $4.483. With the military conflict with Iran entering its 12th week, American consumers have been hit hard at the pumps, and gas prices are expected to get worse, according to GasBuddy.
