US average gasoline price edges toward 4 dollars a gallon

According to data from AAA, the US national average price of regular gasoline reached 3.94 dollars a gallon as of July 16, 2026, up about 10 cents from the prior week and closing in on the 4 dollar mark. Most states still average below 4 dollars a gallon.

AAA cited instability around the Strait of Hormuz as one of the main causes of the increase, a factor that has also lifted crude oil prices. Rising gasoline prices in the world's largest economy feed into inflation expectations and the path of Federal Reserve policy, and through that channel they indirectly matter for Iran's gold and currency markets as well.