multi source·5/1/2026·4 sources analyzed
US gas prices reach highest levels in four years
Gas prices in the US have surged, with the national average now at $4.15 per gallon. California's average has exceeded $6 per gallon. (sources: theguardian, cbsnews, thehill)
ModernAction Briefing
The average price of gas in the US has increased significantly, with California seeing prices above $6 per gallon. Analysts report that consumers have spent an additional $21.7 billion on gas since the onset of the US war on Iran.
- The national average gas price is now $4.15 per gallon, the highest in four years.
- California's average gas price has surpassed $6 per gallon.
- Consumers have collectively paid $21.7 billion more for gas since the start of the US war on Iran.
- Exxon and Chevron reported declines in quarterly earnings despite rising oil prices.
Why it matters
The rise in gas prices impacts consumer spending and the broader economy.
No specific legislation identified for action yet.