Current Gas Prices
Instructor
Joined: Jul 2025
Posts: 1,113
Likes: 205
Miniscule impact. Location and all that goes with it far more impactful. There's a reason I'm paying $3 and yawning while others are paying $5-6 and screaming... and it ain't about EVs. California is a good example. The state could be described as both an oil producing and refining island as well as the EV paradise of the US. Their pump prices are the highest in the nation.
Last edited by ChattanoogaPhil; Jun 3, 2026 at 05:26 AM.
Instructor
Joined: Jul 2025
Posts: 1,113
Likes: 205
We're enjoying the past recent dip in oil prices. Oil prices have been on the rise the last several days. I would expect gas prices to follow.
Sam's gas $3.19. Down another two pennies today. With my Sam's CC 5% cash back on gas purchases I'm getting close to $3... $3.03. We'll see...
Sam's gas $3.19. Down another two pennies today. With my Sam's CC 5% cash back on gas purchases I'm getting close to $3... $3.03. We'll see...
Last edited by ChattanoogaPhil; Jun 3, 2026 at 12:08 PM.
Lexus Champion
Joined: Jan 2012
Posts: 17,213
Likes: 534
From: Knoxville, TN
Gas has dropped roughly to $3.30 in many states according to Gasbuddy....
Since yesterday?
What happened?
Gas is $3.10 in Savannah, GA.
https://www.gasbuddy.com/gasprices/georgia
Click around to see how much cheaper it is in other states.
Since yesterday?
What happened?
Gas is $3.10 in Savannah, GA.
https://www.gasbuddy.com/gasprices/georgia
Click around to see how much cheaper it is in other states.
Last edited by AJT123; Jun 3, 2026 at 01:48 PM.
stepping back from day to day changes... is anyone else shocked that since the straits of hormuz has effectively been closed for what, over a month (not getting into why or politics), that gas prices haven't really skyrocketed? i've heard/read that oil producing countries are finding other ways to get their oil out... is that true in a big way, or a tiny way that doesn't mean much? i guess "other ways" means pipelines, trucks/tankers, other water ways? or is it primarily through things like strategic petroleum reserve (and other reserves) being drained?
i would love to see a situation where there are many good options for SUPPLY so the straits of hormuz becomes relatively unimportant. but i'm saying it doesn't seem to be having as big an effect as one might have thought?
i would love to see a situation where there are many good options for SUPPLY so the straits of hormuz becomes relatively unimportant. but i'm saying it doesn't seem to be having as big an effect as one might have thought?
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Lexus Fanatic
Joined: May 2012
Posts: 68,871
Likes: 4,114
From: Maryland
I mean, gas prices are up like 50-80%...thats a big impact. It depends on where you are, in the US we've seen increases of about 50%, in the middle east its 80-100%...Asia over 100%...
The cost of anything going up 50% in such a short timeframe classifies as "skyrocketing".
The cost of anything going up 50% in such a short timeframe classifies as "skyrocketing".
Google:
National gas prices for the past 6 months have experienced a steady climb, rising from around \(\$3.40\) per gallon in December 2025 to a peak of about \(\$4.60\) by late May 2026, before settling closer to \(\$4.26\) in early June.
Intermediate
Joined: Aug 2002
Posts: 324
Likes: 18
From: MA
It appears we are heading towards meaningful increases in pricing as inventory levels are closing in on critical levels. While in our country we are not yet critical, most of the rest of the oil consuming countries are. Even with some type of settlement opening up the Straight I would expect your 4th of July prices to be more likely higher than lower. I don’t think it’s useful to espouse worse case scenarios but simply put the price of oil is a global commodity and as of now it looks more likely that supply will continue to be constrained and the outcome of that is just simple economics. Also Regular was $4.35 and Premium $5.05 in Bar Harbor Maine as of yesterday.
Instructor
Joined: Jul 2025
Posts: 1,113
Likes: 205
stepping back from day to day changes... is anyone else shocked that since the straits of hormuz has effectively been closed for what, over a month (not getting into why or politics), that gas prices haven't really skyrocketed? i've heard/read that oil producing countries are finding other ways to get their oil out... is that true in a big way, or a tiny way that doesn't mean much? i guess "other ways" means pipelines, trucks/tankers, other water ways? or is it primarily through things like strategic petroleum reserve (and other reserves) being drained?
i would love to see a situation where there are many good options for SUPPLY so the straits of hormuz becomes relatively unimportant. but i'm saying it doesn't seem to be having as big an effect as one might have thought?
i would love to see a situation where there are many good options for SUPPLY so the straits of hormuz becomes relatively unimportant. but i'm saying it doesn't seem to be having as big an effect as one might have thought?
Yes, it's true but far short of making up for lost transit through Hormuz.
Gulf states like the Saudis and UAE are investing tens of billions and accelerating current infrastructure projects to increase export capacity bypassing Hormuz. While that’s more long term 2-3 years, it’s happening. The majority of oil from Gulf states is exported to Asia... but of course it's a global Market dictating price. That said, the US is in an enviable position with domestic oil production and refining capacity.
Last edited by ChattanoogaPhil; Jun 4, 2026 at 08:16 AM.
Lexus Fanatic
Joined: May 2012
Posts: 68,871
Likes: 4,114
From: Maryland
Lexus Fanatic
Joined: Nov 2011
Posts: 35,498
Likes: 389
From: ON/NY
stepping back from day to day changes... is anyone else shocked that since the straits of hormuz has effectively been closed for what, over a month (not getting into why or politics), that gas prices haven't really skyrocketed?
i would love to see a situation where there are many good options for SUPPLY so the straits of hormuz becomes relatively unimportant. but i'm saying it doesn't seem to be having as big an effect as one might have thought?
Last edited by Toys4RJill; Jun 4, 2026 at 08:18 AM.