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US Gas Prices Jump Again May 1 Highest in Four Years as Oil Tops 100
Economy
Published on 1 May 2026
A shipping choke point is still shutting fuel supply
Gas prices are rising again nationwide as the U.S. average climbs sharply in a week, reaching the highest level in four years. Oil is trading above $100 per barrel, while the Strait of Hormuz remains closed, tightening supply. California and Texas are among the hardest hit, with drivers in major states likely to feel the impact today.
- US national average gas prices rose fast over one week
- Prices hit the highest level in four years
- Oil above $100 per barrel is adding upward pressure
- Strait of Hormuz closure is constraining fuel supply
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times