SAN FRANCISCO — The national average price of gasoline in the United States reached $4.55 per gallon as of 22 May 2026, an increase of approximately $1.50 from prewar levels of about $3 per gallon. The rise coincides with ongoing U.S. and Israeli military operations against Iran that began in late February 2026.

According to Moody's Analytics, the average U.S. household has incurred $447.19 in additional fuel-related expenses since the conflict started on 28 February. Cumulative additional energy costs for consumers have reached nearly $60 billion as of May 2026, including over $20 billion from higher diesel prices and nearly $10 billion from rising jet fuel costs.

The average price of unleaded gasoline was $4.39 on a Friday in May, up more than 47% since early March, while diesel averaged $5.52 per gallon over the same period, also a 47% increase, according to AAA. Gasoline and diesel prices remained near their May highs, though jet fuel prices had declined slightly from recent peaks.

“I don’t even predict what next week’s going to be because of headlines,” said Patrick De Haan, head of petroleum analysis at GasBuddy. He added that if the Strait of Hormuz reopens immediately, summer gas prices might settle in the mid-to-upper $3 range, but if it remains closed, prices could approach or exceed $5 per gallon.

Industry estimates suggest fuel prices could take six months to two years to normalize, even if the conflict ends immediately, according to David Ruisard, US products senior editor at Argus Media. He noted that jet fuel prices may stabilize sooner than gasoline or diesel because airlines can adjust routes and reduce flights to manage costs.

Denton Cinquegrana, chief oil analyst at Dow Jones Energy, said that if the war ends by the end of June—after roughly 18 weeks—recovery could take at least that long. He also projected that gasoline prices might fall faster than diesel due to tighter diesel production conditions in the U.S. over recent years.

Mark Zandi, Moody's chief economist, warned that “unless the war ends soon, financially pressed consumers will have no option but to turn more cautious in their spending, threatening the already soft economy.” He estimated that households could face nearly $2,000 in additional energy costs by the one-year mark of the conflict.