The people of the United States (US) are now paying 50% more for gas than before the Iran war, as oil and gas prices have surged recently.
According to the latest American Automobile Association (AAA) reading, US gas prices edged up nearly 3 cents, to an average of $4.48 as of May 5th, 2026, for a gallon of regular.
That’s up 30 cents from a week ago and marks an increase of 50% since the start of the war with Iran.
According to reports, the price is now the highest since July 2022, following Russia’s invasion of Ukraine earlier that year. That spike took prices to a record $5.02.
According to Tom Kloza, an independent oil analyst and adviser to Gulf Oil, the chance that gas gets to $5 again is about 50-50.
“What we’ve seen most recently is an explosion in prices in non-coastal markets,” said Kloza.
He said he expects prices at the pump to reach $4.75 a gallon this month.
Oil futures were slightly lower in trading on Tuesday, after US naval ships helped guide ships through the blocked Strait of Hormuz.
(CNN)
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