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Gas Prices Hit $4.06 in August, JEC Says

8/18/2026

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Story summary
  • Gas prices rose to $4.06 per gallon in August as President Donald Trump threatened Oman.
  • The average rose $0.05 from the prior week, while California and Hawaii hit $5.50 per gallon.
  • The Joint Economic Committee said Americans have paid $56.4 billion for gasoline in six months, about $477 per household.
  • Brent crude peaked at $112 a barrel in March and now trades near $85, 30% above last year.