Story perspectives

U.S. Gas Hits $4.56, Threatened Record Amid Hormuz Closure

5/23/2026

Summary

Story summary

U.S. President Donald Trump’s administration reported average U.S. gasoline at $4.56 per gallon, $0.50 higher than a month earlier.
Anonymous White House sources said staff are “absolutely, totally freaked” about surpassing former President Biden’s $5.02-per-gallon gas price record.
Analysts warned that if the Strait of Hormuz stays closed through June, U.S. gasoline could set a new record by July 4 as inventories sit at the lowest May level in 12 years.

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Story summary

U.S. President Donald Trump’s administration reported average U.S. gasoline at $4.56 per gallon, $0.50 higher than a month earlier.
Anonymous White House sources said staff are “absolutely, totally freaked” about surpassing former President Biden’s $5.02-per-gallon gas price record.
Analysts warned that if the Strait of Hormuz stays closed through June, U.S. gasoline could set a new record by July 4 as inventories sit at the lowest May level in 12 years.