U.S. Gas Prices Hit $4.54/Gal National Avg as Only 3 States Below $4 Amid Iran War

U.S. gasoline prices surged to a national average of $4.54/gal on May 6, 2026—the highest since July 2022—marking a 14th straight daily increase, with California at $6.16/gal and only Oklahoma, Mississippi, and Louisiana below $4/gal. From $3.11/gal on March 3, prices crossed $4/gal by March 31 in the fastest 30-day rise in over five years, accelerated by the Iran war's Strait of Hormuz disruptions (11th week), refinery outages like PBF Martinez, and plunging inventories down 6 million barrels. Crude futures topped $106/bbl (+58% since war start), adding $29.2B in extra fuel costs ($223/household) and amplifying inflation/recession risks.