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Jul 2, 2026 - Energy & Climate

July 4 gas prices will be the highest since 2022

  • Ben Geman

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A line chart that tracks average U.S. regular gasoline prices, in dollars per gallon, from Jan. 1 to July 1, 2026. Prices rose from $2.8335 to a peak of $4.5641 on May 21, after a low of $2.7951 on Jan. 11, then fell to $3.847 by July 1.A line chart that tracks average U.S. regular gasoline prices, in dollars per gallon, from Jan. 1 to July 1, 2026. Prices rose from $2.8335 to a peak of $4.5641 on May 21, after a low of $2.7951 on Jan. 11, then fell to $3.847 by July 1.

Data: AAA; Chart: Ben Geman/Axios

The average regular U.S. gasoline price is $3.85 as of Thursday morning, per AAA data.

Why it matters: That's lower than it was, but it's by far the highest price heading into the July 4 weekend since 2022, when the national average was $4.80 on the holiday itself.

The big picture: The politics of gas prices are tricky these days.

  • The price surge during the Iran war that started in late February, which you can see above, could hurt Republicans in the midterms.
  • On the other hand, the trajectory has been sharply downward in recent weeks since prices peaked at $4.56 per gallon in May.

What we're watching: President Trump this week issued a vague threat of "big problems" unless gasoline retailers cut prices more quickly.

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