The nation’s average price of gasoline has risen 7.7 cents over the last week and stands at $4.02 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is up 3.6 cents from a month ago and is 93.1 cents per gallon higher than a year ago. The national average price of diesel rose 14.3 cents in the last week and stands at $5.418 per gallon.
“Average gasoline prices climbed back above $4 per gallon over the last week, with prices rising in slightly more states than they fell, as rebounding oil prices driven by the continued closure of the Strait of Hormuz and ongoing Ukrainian attacks on Russian oil refineries kept upward pressure on the market,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Diesel felt the pressure even more acutely, rising in all but a few states, as Ukraine’s attacks on Russian refining infrastructure continue to impact refined product prices more than crude oil itself. While the seasonal transition to cheaper winter-blend gasoline in the coming month could bring some relief, the two dominant challenges facing motorists—the closed Strait and the ongoing refinery strikes—show no signs of resolving anytime soon. Until they do, the path for gas and diesel prices remains tilted to the upside.”
OIL MARKET DYNAMICS
Oil prices were little changed in Sunday overnight trade as markets remained in a holding pattern, with the Strait of Hormuz standoff dragging into its sixth month and confidence in a near-term resolution eroding. Attacks on shipping picked up again last week, pushing Brent briefly above $90 mid-week, while the EIA projected Brent will average $87 per barrel for the full year and said it doesn’t expect Middle East production to recover to near pre-conflict levels until early 2027. In Sunday overnight trade, WTI was down 32 cents to $82.08 per barrel, modestly above last Monday’s $79.62, while Brent slipped a penny to $88.51 compared to $85.00 a week ago—with both benchmarks unlikely to move decisively in either direction until talks produce something concrete.
OIL AND REFINED PRODUCT SUPPLIES
The EIA’s Weekly Petroleum Status Report for the week ending August 7, 2026, showed U.S. commercial crude oil inventories rose by 17.4 million barrels and are about 2% below the five-year average for this time of year, while the SPR fell 6.1 million barrels to 298.7 million barrels. Gasoline inventories fell by 1.0 million barrels and are about 6% below the five-year seasonal average, while distillate inventories were essentially unchanged and are about 12% below the five-year seasonal average. Refinery utilization fell 0.3 percentage points to 96.2%, while implied gasoline demand, the EIA’s proxy for retail demand, fell 67,000 bpd to 8.964 million barrels per day.
GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists was $3.89 per gallon, down 10 cents from a week ago, followed by $3.69, $3.79, $3.99, and $3.59, rounding out the top five most common prices.
The median U.S. gas price is $3.89 per gallon, up 7 cents from last week and about 13 cents lower than the national average.
The top 10% of stations in the country average $5.46 per gallon, while the bottom 10% average $3.41 per gallon.
The states with the lowest average prices: Louisiana ($3.53), South Carolina ($3.58), and Alabama ($3.58).
The states with the highest average prices: California ($5.56), Hawaii ($5.43), and Washington ($5.17).
Biggest weekly changes: Colorado (+33.2¢), Ohio (+32.8¢), Iowa (+20.1¢), Oklahoma (+17.9¢), Kentucky (+15.4¢).
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $4.99 per gallon, unchanged from last week, followed by $4.89, $4.95, $4.79, and $4.94, rounding out the top five most common prices.
The median U.S. diesel price is $5.35 per gallon, up 16 cents from last week and about 7 cents lower than the national average.
Diesel prices at the top 10% of stations in the country average $6.00 per gallon, while the bottom 10% average $4.85 per gallon.
The states with the lowest average diesel prices: Oklahoma ($4.97), Texas ($5.01), and Missouri ($5.02).
The states with the highest average diesel prices: California ($6.93), Hawaii ($6.85), and Washington ($6.14).
Biggest weekly changes: Colorado (+47.9¢), West Virginia (+30.8¢), Delaware (+28.8¢), South Dakota (+27.4¢), Kansas (+26.1¢).