Gas Prices Surge on May 3, 2026: Latest Rates Across Major US States
Gas Prices Today May 3: Check latest rates in California, Texas, Florida, New York and Pennsylvania
The Economic Times
Image: The Economic Times
On May 3, 2026, gas prices in the United States saw a significant increase, with the national average rising to $4.446 per gallon. California reported the highest prices, with regular fuel at $6.101 per gallon, while Texas had the lowest at $3.916.
- 01National average gas price increased by 27 cents in one week.
- 02California has the highest gas prices at $6.101 per gallon.
- 03Texas has the lowest gas prices among major states at $3.916 per gallon.
- 04Oil prices exceeded $100 per barrel, impacting fuel costs.
- 05Gas prices are at their highest level since July 2022.
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As of May 3, 2026, gas prices in the United States have surged, with the national average reaching $4.446 per gallon, up from $4.433 the previous day. This marks a notable increase of 27 cents over the week. California continues to experience the highest prices, with regular fuel costing $6.101 per gallon, while Texas offers the lowest prices at $3.916 per gallon. Other states show varied pricing: Florida's regular fuel is at $4.342, New York at $4.453, and Pennsylvania at $4.520. The rise in gas prices coincides with oil prices climbing above $100 per barrel, driven by ongoing uncertainties regarding the reopening of the Strait of Hormuz. This spike in fuel prices represents the highest levels seen in four years, last recorded in July 2022.
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The increase in gas prices will likely affect consumers' budgets, leading to higher transportation costs and potential inflation in goods reliant on fuel.
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