The Biggest News Stories Of 2026 - Page 3
Updated May 5, 2026, 12:00 PM
Gas prices are climbing nationwide, with increases reported in all 50 states over the past week, according to fuel industry analysts. Patrick De Haan, head of petroleum analysis at GasBuddy, said the most dramatic spikes have been concentrated in the Great Lakes region, where Michigan, Indiana, Ohio, and Illinois saw some of the fastest jumps. Wisconsin, meanwhile, experienced more moderate increases.
USA Day reports that diesel prices are also surging, with some areas in the region approaching or exceeding $6 per gallon. The national average for regular gas reached $4.46 on May 4, up from $4.11 just a week earlier, according to AAA.
Analysts say the volatility is being driven by a mix of global and domestic factors. Markets are reacting to increased production from OPEC+ as well as policy moves from Donald Trump aimed at easing supply chain disruptions, including efforts to free stranded cargo ships. Despite these developments, experts warn that price swings are likely to continue in the near term.
Fuel costs are determined by several components across the supply chain. The American Petroleum Institute notes that crude oil prices make up the largest share, accounting for roughly half of what consumers pay. Additional costs include refining, distribution, marketing, and federal and state taxes.
Regionally, California continues to have the highest gas prices in the country, with drivers paying an average of $6.11 per gallon. Other high-cost states include Hawaii, Washington, Oregon, and Nevada. On the lower end, Oklahoma has the cheapest gas at $3.89 per gallon, followed by Kansas, Arkansas, Georgia, and North Dakota.
With multiple factors influencing supply and demand, experts say drivers should expect continued fluctuations at the pump in the coming weeks.
From politics to weather, keep scrolling for some of the major news stories we have witnessed in 2026.
