In May, there’s a certain silence at gas stations. Drivers sometimes stop the nozzle before the tank is full, staring at the pump’s spinning numbers for a bit longer than usual and mentally recalculating. More about the economy can be learned from this little ritual than from any quarterly report. And that silence has grown heavier as of right now.
Tuesday’s national average for regular gasoline was $4.176, up from $4.022 a week earlier and $4.111 the day before. It’s the highest seasonal price the United States has ever seen for this time of year; it’s a record for May, which is a quiet milestone in and of itself, but not a record overall. In contrast, Diesel has already set new records in six states: California, Hawaii, Washington, Nevada, Arizona, and North Carolina. Truckers and freight operators believe that the worst is still to come.
| Key Information | Details |
|---|---|
| Topic | U.S. Gasoline & Diesel Prices — May 2026 Seasonal Records |
| National Average (Regular Gas) | $4.18 per gallon |
| National Average (Diesel) | $5.646 per gallon |
| Previous All-Time High (Regular) | $5.016 — June 14, 2022 |
| Previous All-Time High (Diesel) | $5.816 — June 19, 2022 |
| Most Expensive State (Regular) | California — $5.965 |
| Cheapest State (Regular) | Oklahoma — $3.570 |
| States at Record Diesel Prices | California, Hawaii, Washington, Nevada, Arizona, North Carolina |
| Primary Drivers | Iran tensions, Strait of Hormuz uncertainty, refinery turnover |
| Data Source | AAA Daily Fuel Gauge Report |
It’s difficult to ignore how unevenly this is landing. Drivers in California are paying an average of $5.93 per gallon at gas stations, which is about 50 cents less than the state’s all-time high from four years ago. Hawaii is only two cents short of its 2022 record, effectively staring at it in the rearview mirror. In contrast, Oklahomans continue to pay $3.57. The difference between two American drivers filling identical tanks is almost two and a half dollars. The divide appears almost geological on the map, which is colored red, blue, and grey.
The Strait of Hormuz, a body of water that most Americans couldn’t find on a globe, is largely responsible for this. Oil markets are pricing in fear rather than reality as the negotiations over Iran continue into their third tense month. Investors appear to think a resolution is achievable. Refiners are unsure. One fill-up at a time, the outcome arrives at the pump.
Last week, as the numbers rose above sixty dollars, a delivery driver leaned on the door of a station in midtown Manhattan. He appeared resigned rather than furious. That’s starting to take center stage in this cycle of gas prices. Something more subdued than the outrage that followed Russia’s invasion of Ukraine in 2022, when prices skyrocketed above five dollars. Perhaps acceptance. or exhaustion.
However, the politics surrounding it are beginning to change. More than half of Republican voters blamed President Trump for the increase, according to a recent Reuters/Ipsos poll, creating an uncommon rift in his economic alliance. Trump responded, “For a little while,” when asked last week if Americans should anticipate continuing to pay more before turning his attention to Iran’s nuclear program. It’s the kind of response that makes political strategists clench their jaws and economists wince.
There is still no clear off-ramp. Diesel is getting close to records in Virginia, South Carolina, Texas, and Maryland—all within five cents—which typically portends more severe problems for freight, construction, and groceries. Summer-blend gasoline is evolving, refineries are operating, and the West Coast is still a separate market. You get the impression that we’re not yet at the top of the curve as you watch this develop. Somewhere along the ascent.
