ECONOMY

Gasoline Prices Climb Amid Strait of Hormuz Tensions

PUBLISHED May 5, 2026, 8:02 AM ET

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Sources: 6

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Sources: 6

WASHINGTON — The American Automobile Association reported the national average price for a gallon of regular gasoline rose to $4.483 on Tuesday, an increase of nearly 3 cents overnight, as escalating tensions in the Strait of Hormuz and related crude oil volatility pushed retail fuel prices higher across multiple states this week. This week drivers saw larger regional spikes, with California averaging $6.13 per gallon and a South San Francisco station reporting $7.89 on Tuesday; diesel also ticked higher. State-level responses included Georgia's March tax suspension and a Kentucky executive order signed Tuesday to freeze a scheduled gas tax increase, slightly easing consumer costs.

By Adyan K. | JQJO News

Timeline of Events

March: Georgia suspends state gas and diesel excise taxes for 60 days.
Early May: Crude oil prices rise amid renewed Strait of Hormuz tensions.
Tuesday: AAA reports national average gasoline at $4.483 and diesel at $5.659.
Tuesday: Bay Area stations report local spikes, one listing $7.89 per gallon.
Wednesday: AAA reports national average at $4.536; Kentucky freezes scheduled gas tax hike.

News Intelligence

Rising gas prices hit your wallet directly. If you're in a state like California, you're feeling it even more. Check your local gas prices before hitting the road. Consider carpooling or public transit to save some cash.

Media Bias

Articles Published:: 6
Right Leaning:: 0
Left Leaning:: 0
Neutral:: 6

Who Benefited

Oil producers and refiners saw near-term price-driven revenue increases, while motorists in states that suspended gas taxes received temporary relief through lower at-the-pump costs compared with otherwise higher retail prices.

Who Impacted

Motorists, particularly in California and Bay Area communities, suffered sharply higher pump prices with some stations charging near $8 per gallon and statewide averages exceeding $6 per gallon.

Media Bias

Articles Published:: 6
Right Leaning:: 0
Left Leaning:: 0
Neutral:: 6
Distribution:: Left 0%, Center 100%, Right 0%

Who Benefited

Who Impacted

Motorists, particularly in California and Bay Area communities, suffered sharply higher pump prices with some stations charging near $8 per gallon and statewide averages exceeding $6 per gallon.