- The national average for regular gasoline reached 4.45 dollars per gallon on May 2 2026 marking the highest price ever recorded for that date
- California and Washington are seeing the most extreme costs with prices hitting 6.10 dollars and 5.67 dollars per gallon respectively
- Analysts forecast that prices could reach 5 dollars per gallon by Memorial Day as the closure of the Strait of Hormuz continues to block 20 percent of global oil transit
- The 21.2 percent jump in gas prices during March 2026 represents the largest monthly increase since the Consumer Price Index began tracking in 1967
- Market volatility has been exacerbated by drone attacks on major energy facilities in Saudi Arabia and Qatar alongside the ongoing maritime blockade
United States gas prices hit record highs as Iran conflict disrupts global oil supplies
May 3, 2026, 7:54:15 PM UTC(14 hours ago)
Impact: Very High
Affected Assets
Sources
From:@DeItaone
US GAS PRICES SURGE NEARLY 50% SINCE IRAN WAR START
US regular gas now averages $4.45 per gallon (AAA). Prices are up 35 cents in a week and $1.47 since February 28—marking a 49.3% jump since the conflict began.
