Gas prices in the United States have resumed their upward trend after a brief period of decline, with the national average reaching $4.457 per gallon on May 4, 2026, according to AAA data. This marks a slight day-over-day increase and pushes prices to their highest level since July 2022. The recent reversal comes amid tightening global oil supply conditions, with crude prices surpassing $100 per barrel and uncertainty lingering over the reopening of key shipping routes like the Strait of Hormuz.
Over a broader timeframe, the surge has been particularly sharp. Gas prices have jumped nearly 50% in just nine weeks, rising from $2.98 to $4.46 per gallon, one of the steepest increases seen in the past three decades. The rapid climb highlights mounting pressure in energy markets, driven by geopolitical tensions and supply disruptions, with little indication that relief for consumers is imminent.
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