"Since then, the trajectory has moved in one direction. March 2026 brought a monthly average of $3.64 per gallon. April climbed to roughly $4.10. By early May, prices had crossed $4.45 to $4.58, depending on the source. The most recent week alone added about 25 cents to the national average. Compared to May 2025, when regular averaged $3.14 to $3.26 per gallon, drivers are now paying more than $1.40 extra at the pump."
Gas prices rose on May 8 to about $4.52 per gallon according to AAA data, contradicting a claim that prices fell very substantially that day. U.S.-Iran conflict and Strait of Hormuz tensions disrupted an estimated 20% of global oil supply flows, pushing Brent crude above $100 per barrel in May 2026. WTI traded around $94 to $95, and higher crude costs feed into retail gasoline because oil accounts for roughly 50% to 60% of pump prices. EIA forecasts Brent could peak near $115 per barrel in Q2 2026 before easing if tensions resolve. The Brent-WTI spread widened due to elevated shipping costs.
Read at news.bitcoin.com
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