Gas prices surge past $4.50 nationally as Iran tensions pressure drivers

AAA national average for regular gas surges past $4.50 mark | Fox Business
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Gas Prices
Published
May 6, 2026 6:01am EDT
Gas prices surge past $4.50 nationally as Iran tensions pressure drivers
California is the only state with a AAA state gas price average above $6
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By Alex Nitzberg FOXBusiness
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Gas prices spike as California cuts domestic oil, boosts dependence on foreign imports
California Independent Petroleum Association CEO Rock Zierman joins ‘Varney & Co.’ to warn that state policies are slashing in-state oil production, driving up gas prices and increasing California’s reliance on foreign energy sources.
The national average price for regular gasoline surged above $4.50 per gallon Wednesday, as ongoing tensions between the U.S. and Iran continued to pressure fuel costs for American drivers.
AAA reported the national average for regular gas at $4.536 as of Wednesday, up more than five cents from Tuesday’s $4.483 average.
The highest recorded was $5.016 for June 14, 2022, according to gasprices.aaa.com . That took place during Joe Biden's presidency.
The AAA California average price for regular gas as of Wednesday is a whopping $6.16, towering over all the other states.
NATIONAL AVERAGE GAS PRICE REACHES $4.45 BEFORE SUMMER DRIVING SEASON
Gas station attendant Wojak Atur pumps gas for a customer at the Empire Gas Station in East Hampton, N.Y., on April 27, 2026. (James Carbone/Newsday RM via Getty Images / Getty Images)
Oklahoma, Mississippi and Louisiana remained just under the $4 mark, with AAA averages of $3.962, $3.97 and $3.993, respectively.
Several states were averaging more than $5 per gallon for regular fuel, including Alaska at $5.188, Nevada at $5.233, Oregon at $5.332, Hawaii at $5.657 and Washington at $5.747.
CHEVRON CEO SAYS ECONOMIES ‘ARE GOING TO HAVE TO SLOW’ AS STRAIT OF HORMUZ CLOSURE DISRUPTS OIL SUPPLY
A sign displays the price of regular gasoline fuel at a Chevron gas station in Austin, Texas, on Tuesday, May 5, 2026. (Kaylee Greenlee/Bloomberg via Getty Images / Getty Images)
White House spokeswoman Taylor Rogers said in a statement provided to Fox News Digital, "President Trump remains committed to fully unleashing American energy dominance, lowering costs, and putting more money back in the pockets of hardworking American families. As the President continues to exert maximum leverage over Iran with the ongoing successful blockade to bring this conflict to an end, we will see global energy markets stabilize and gas prices plummet back to the multi-year lows Americans enjoyed prior to the start of Operation Epic Fury."
The U.S. has been engaged in a blockade against Iran for more than three weeks.
AAA NATIONAL AVERAGE GAS PRICE SOARS ABOUT 33 CENTS IN A WEEK
President Donald Trump waves after his arrival at Ocala International Airport, in Ocala, Fla., on May 1, 2026. ( Jim WATSON / AFP via Getty Images / Getty Images)
President Donald Trump said in a Tuesday evening Truth Social post that Project Freedom, described as "The Movement of Ships through the Strait of Hormuz," would be paused briefly while negotiations continue.
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"Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed," Trump wrote.
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