U.S. National Average Gasoline Price Reaches $4.50 per Gallon

The national average price for a gallon of gasoline has risen to $4.50, an increase of more than $1.50 since the start of the conflict with Iran. In Killeen, Texas, the price has increased by $1.28. Charles Rice said the higher cost now adds about $90 to his monthly fuel expenses for his truck.

"$3.96 instead of $4.12 or $4.20 or what have you, so that's what brought me in here today," Rice said while filling up at Casey's General Stores. Casey's is the nation's third-largest convenience store chain, with nearly 300 locations across 19 states.

Two-thirds of its locations are in towns of 20,000 people or less.

Store visits at Casey's are expected to increase 20% during the Memorial Day weekend, the start of the chain's 100 days of summer, according to the company. "The consumers have been hanging in there, and we tend to price our fuel at the lower end," a company executive said. Before the Middle East conflict began in February, the national average price for a gallon of gasoline was just below $3.

Price Forecasts and Spending Adjustments The U.S.

Energy Information Administration estimated in a May 12 forecast that retail gasoline prices will average $3.88 per gallon for the rest of the year and $3.62 per gallon in 2027. Consumers are shifting purchases toward lower-cost options. Sales of Casey's self-branded snacks, priced about a dollar less than national brands, have increased.

"People normally want things that are going to be a little bit more affordable," said Tiffany Bishop, a customer. " A company executive said many customers view the chain as a better value when household budgets are tighter.