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.
“This is the most volatile summer at the pump in years, and the Strait of Hormuz closure is at the center of it,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Americans are going to pay billions more to get where they’re going this summer, and even after the Strait reopens, it could take a year or more for prices to fully recover. Some states are already suspending gas taxes to ease the pain, and federal discussions are underway. Every bit of relief matters. Use every tool you have, including GasBuddy, to find the lowest price near you.”
Fuel costs will be “$1.48 more expensive on this Memorial Day compared to last year,” according to GasBuddy. Additionally, many models show the national average for a gallon of regular gas reaching $5 per gallon, if not more, in upcoming weeks, if the war continues and the Strait of Hormuz remains blockaded.
Regardless of prices, one thing that will remain certain about fuel costs is that they vary by state and region. Currently, the highest gas prices in the nation are in the western U.S., while the lowest are in the Gulf states.
FIRST, THE STRAIT OF HORMUZ, WHAT CHOKE POINT COULD BE NEXT?
Mississippi has the cheapest gas prices in the country, with a statewide average of $4.017 per gallon on Thursday. Georgia is next with an average price of $4.032 per gallon. Indiana has climbed to the state with the third-lowest gas prices in the country, with an average of $4.048. Louisiana is next at $4.057 per gallon, followed by Texas at $4.092 per gallon.
Meanwhile, California has the highest gas prices in the country at $6.143 per gallon. This is followed by Washington state at $5.788 per gallon. Next is Hawaii, with a statewide average price of $5.646 per gallon, and then Oregon, with an average price of $5.353 per gallon. Alaska rounds out the top five states with the highest fuel costs in the nation, with an average price of $5.273 per gallon.