The national average could hit $4.80 a gallon between Memorial Day and Labor Day, surpassing the prior summer record set in 2022
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A new GasBuddy forecast released Wednesday puts the national average gas price at $4.80 per gallon for the summer driving season — a figure that would eclipse the record of $4.43 per gallon from 2022. The forecast covers the period from Memorial Day through Labor Day and is driven by the closure of the Strait of Hormuz.
The average national average on Wednesday came in at $4.56 a gallon, according to AAA, and every state in the country has crossed the $4 threshold, with seven states posting averages north of $5. GasBuddy's Memorial Day projection of $4.48 per gallon would represent a sharp jump from the $3.14 average recorded on the same holiday a year earlier, ranking it as the second-costliest Memorial Day in history. The lone exception was Memorial Day 2022, when Russia's invasion of Ukraine had pushed the holiday average to $4.61 per gallon, per CNN.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the situation could worsen further. "If the Strait remains closed for much of the summer, prices could hit $5 per gallon or higher and potentially set new all-time records," GasBuddy said. Even after the Strait reopens, sub-$3 gas is unlikely to return for many months, GasBuddy added.
In a conversation with CNN, De Haan warned that a $5-per-gallon national average could materialize sometime next month should the Strait of Hormuz stay closed. "Prices were incredibly stable last summer. This summer is probably the complete opposite, perhaps the most volatile," he said.
Rising gas prices are affecting summer travel plans. GasBuddy's 2026 Summer Travel Survey found that 56% of Americans still plan to drive more than two hours this summer, down from 69% last year. Cost is now the main factor for travelers, with 53% mentioning it, and 36% saying higher prices are making them take fewer road trips.
Among individual states, California tops the chart at $6.14 per gallon and Georgia sits at the opposite end with the country's lowest average at $4.01.
Gasoline costs are hitting household budgets broadly. Research from Brown University's Climate Solutions Lab puts the cumulative gasoline burden since the Iran war began at roughly $24 billion — a hit that works out to close to $200 for the average household.
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